When you diversify your mutual funds, you are diversifying something that is already diversified. Diversifying mutual funds is like taking high octane gasoline & adding water & then adding orange juice to it.

The more a person seeks security, the more that person gives up control over his life.

So many people operate in a world of right and wrong [that] they become polarized. You're conservative or you're liberal; and if you're one or the other, you can't be both. I just think that this idea of right and wrong is kind of a damaging idea.

The best way to predict the future is to study the past, or prognosticate.

Any time an investment company has to spend heavily on advertising, it's probably a bad business in which to invest.

I don't know why I am internally a violent person. I don't have the normal nerve endings most people do, which was very good for me as a pilot in Viet Nam. When most people are afraid, I'm actually quite excited about things. The more dangerous something is, the happier I am.

Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.