Diversification is protection against ignorance. It makes little sense if you know what you are doing.

We would do best in a market where everyone acted foolishly.

The smartest side to take in a bidding war is the losing side.

I am not worried about the country. I'm just worried about anything that gums up the potential of the country. And right now, it's pretty gummed up.

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands.

If you cannot control your emotions, you cannot control your money.