The founding fathers were not only brilliant, they were system builders and systematic thinkers. They came up with comprehensive plans and visions.

A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.

Because of the love affair between the American public and the stock market, it is possible for entrepreneurs, technological visionaries and inventors of every sort to get financing.

A prudent silence will frequently be taken for wisdom and a sentence or two cautiously thrown in will sometimes gain the palm of knowledge, while a man well informed but indiscreet and unreserved will not uncommonly talk himself out of all consideration and weight. (Alexander Hamilton's 'thesis on discretion' written to his son James shortly before his fatal duel with Burr.)

Stock market corrections, although painful at the time, are actually a very healthy part of the whole mechanism, because there are always speculative excesses that develop, particularly during the long bull market.

I have developed a very strong partiality for the dead: they don't talk back, they don't sue, and they don't have angry relatives.

One of the very nice things about investing in the stock market is that you learn about all different aspects of the economy. It's your window into a very large world.