Returns decrease as motion increases.

When bills come due, only cash is legal tender. Don't leave home without it.

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

Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.

The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.

An investor should act as though he had a lifetime decision card with just twenty punches on it.

We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.