Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.

All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.

We don't get paid for being busy, we get paid for being right.

We all make mistakes. If you can't make mistakes, you can't make decisions. I've made a lot bigger mistakes myself.

To be successful, you should concentrate on the world of companies, not arcane accounting mathematics.

Stocks are the only thing that people are happy to buy when the price goes up.

I mean, they were getting the mortgage of some guy in Omaha, you know, securitized a couple of times. I mean he had all these - they had all these types from Wall Street, you know, and they had advanced degrees, and they look very alert, and they came with these - they came with these things that said gamma and alpha and sigma and all that. And all I can say is beware of geeks, you know, bearing formulas. They've heard that in Europe.