The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.

The best asset is your own self. You can become to an enormous degree the person you want to be

The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.

I know the country works extremely well. You know, but when it isn't clogged up.

An irresistable footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.

I mean, you may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing.

You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.