The American worker is more productive than he's ever been.

I think the worst mistake you can make in stocks is to buy or sell based on current headlines.

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

Our approach is very much profiting from lack of change rather than from change.

It's the deleveraging that's going on right now that has caused the credit crisis.

Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.

There is no substitute for a local newspaper that is doing its job.