You don't want too much fear in a market, because people will be blinded to some very good buying opportunities. You don't want too much complacency because people will be blinded to some risk.

As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is a very easy and safe and that you're a financial genius.

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.

The richly cadenced prose is hypnotic, the research prodigious, the analysis acute, the mood spellbinding, and the cast of characters mythic in scale. I cannot conceive of a better book about Capitol Hill. An unforgettable, epic achievement in the art of biography.

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

In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks.

I think those who invest in mutual funds want someone else to do the thinking for them. But the fact that they can move the money around the family of mutual funds just through a phone call lets them feel that they can play tycoons.