Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labelled speculation

When forced to choose, I will not trade even a night's sleep for the chance of extra profits.

Money to some extent sometimes let you be in more interesting environments. But it can't change how many people love you or how healthy you are.

One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity,' sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise.

I would push purchasing power - you push out $1,000 of purchasing to those people, it's going to get - it's going to get spent. And it needs to be spent. They need it. And it should come, to some extent, from guys like me.

You should invest like a Catholic marries: for life.

I mean, you may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing.