You need humility to say 'I might be wrong.'

Wall Street can be a dangerous place for investors. You have no choice but to do business there, but you must always be on your guard. The standard behavior of Wall Streeters is to pursue maximization of self-interest; the orientation is usually short term. This must be acknowledged, accepted, and dealt with. If you transact business with Wall Street with these caveats in mind, you can prosper. If you depend on Wall Street to help you, investment success may remain elusive.

We don't deal in absolutes. We deal in probabilities.

At equal returns, public investments are generally superior to private investments not only because they are more liquid but also because amidst distress, public markets are more likely than private ones to offer attractive opportunities to average down.

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.

If another person were to enter the building, it would once again be empty.

Limit risk with: Deep analysis Bargain purchase Sensitivity analysis.