Knowing what to leave out is just as important as knowing what to focus on.

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

I certainly do believe anyone engaged in the management of money should have a standard of measurement, and that both he and the party whose money is managed should have a clear understanding why it is the appropriate standard, what time period should be utilized, etc.

I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.

Investment ideas, like women are often more exciting than punctual.

Nevertheless, as circumstances presently appear, I feel substantially greater size is more likely to harm future results than to help them. This might not be true for my own personal results, but it is likely to be true for your results.

The stock market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch.