Beware of geeks bearing formulas.

A public-opinion poll is no substitute for thought.

It is to our advantage to have securities do nothing price-wise for months, or perhaps years, while we are buying them.

When people tell me they've learned from experience, I tell them the trick is to learn from other people's experience.

People do, as long as you have markets, you'll have excesses.

I am a better investor because I am a businessman, and a better businessman because I am no investor.

If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.