Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.

Do what you love and work for whom you admire the most, and you've given yourself the best chance in life you can.

An investor should act as though he had a lifetime decision card with just twenty punches on it.

What motivates most gold purchasers is their belief that the ranks of the fearful will grow ... As 'bandwagon' investors join any party, they create their own truth - for a while.

It's a big mistake to try and mislead people. They will turn around.

They say the chains of habit are too light to be felt until they are too heavy to be broken. The chains you put around yourself now have enormous consequences as you go through life.

In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.