As of 1992, in fact-though the picture would have improved since then-the money that had been made since the dawn of aviation by all of this country's airline companies was zero. Absolutely zero.

Bad terminology is the enemy of good thinking.

They say the chains of habit are too light to be felt until they are too heavy to be broken. The chains you put around yourself now have enormous consequences as you go through life.

The stock market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch.

John Maynard Keynes essentially said, don't try and figure out what the market is doing. Figure out a business you understand, and concentrate.

In looking for people to hire, look for three qualities: integrity, intelligence and energy. And if they don't have the first, the other two will kill you.

So if you are evaluating others (or yourself!) in the investment field, think out some standards - apply them - interpret them.