Wild swings in share prices have more to do with the "lemming- like" behaviour of institutional investors than with the aggregate returns of the company they own.

An investor needs to do very few things right as long as he or she avoids big mistakes.

Every day that goes by, I mean, if you don't react to Pearl Harbor for a week or two weeks or three weeks, you're behind in the war that you otherwise would have fought.

People will always try to stop you from doing the right thing if it is unconventional.

You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be. And if it can’t stand applying pencil to paper, you’d better think it through some more. And if you can’t write an intelligent answer to those questions, don’t do it.

What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.

When the brothel burns down, even the pretty girls have to run out.