We have long felt that the only value of stock forecasters is to make fortune-tellers look good.

Cultivate curiosity and strive to become a little wiser every day.

Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands.

Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.

There are three kinds of people: 1. Innovators. 2. Imitators. 3. Idiots.

SUPPOSE that an investor you admire and trust comes to you with an investment idea. This is a good one, he says enthusiastically. I'm in it, and I think you should be, too.

Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.