Never get too hung up on mistakes.

The optimum portfolio depends on the various expectations of choices available and the degree of variance in performance which is tolerable. The greater the number of selections, the less will be the average year-to-year variation in actual versus expected results. Also, the lower will be the expected results, assuming different choices have different expectations of performance.

The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.

I think people - what people want to do is make [economy] get worse.

The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you....it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.

There seems to be some perverse human characteristic that likes to make easy things difficult.

Success is having people love you that you want to have love you.