Returns decrease as motion increases.

If principles can become dated, they're not principles.

If you gave me $100 billion and said take away the soft drink leadership of Coca-Cola in the world, I'd give it back to you and say it can't be done.

Knowing what to leave out is just as important as knowing what to focus on.

In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.

It's easy to identify many investment managers with great recent records. But past results, though important, do not suffice when prospective performance is being judged. How the record has been achieved is crucial.

Equities will do well over time - you just have to avoid getting excited when other people are getting excited.