Ben's Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient markets, dynamic hedging and betas. Their interest in such matters is understandable, since techniques shrouded in mystery clearly have value to the purveyor of investment advice. After all, what witch doctor has ever achieved fame and fortune by simply advising 'Take two aspirins'?

Occasionally, a man must rise above principles.

You are neither right nor wrong because the crowd disagrees with you.

When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.

The best thing I did was choose the right heroes.

I never try to predict the market.

Fear is the foe of the faddist, but the friend of the fundamentalist.