The [stock] market,like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.

The greatest Enemies of the Equity investor are Expenses and Emotions.

Good profits simply are not inconsistent with good behavior.

I've never been very fully employed either but just think of what it's like, you know, to go home with a mortgage payment you know and kids and everything else. My dad had that happen to him in the early '30s.

A pack of lemmings looks like a group of rugged individualists compared with Wall Street when it gets a concept in its teeth.

And people really behaved in a fraudulent way or something, we'll go back and find the culprits later on. But that really isn't the problem we have. I mean that's where it came from, though. We leveraged up and if you have a 20 percent fall in value of a $20 trillion asset, that's $4 trillion. And when $4 trillion lands - losses land in the wrong part of this economy, it can gum up the whole place.

The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.