If some institution wants to sell you a billion dollars worth of mortgages, they might have to sell 100 million in the market, and then you'll buy the other 900 million on the same terms. Now, the very fact that this has been authorized or will be authorized, I hope, will firm up the market to some degree. And that's fine. But you don't want to have artificial prices being paid.

If you're extremely rich, and you have got children, my theory was, you give them enough so they can do anything, but not enough so they can do nothing.

If you cannot control your emotions, you cannot control your money.

Diversification is protection against ignorance. It makes little sense if you know what you are doing.

Be brave when others are afraid, and afraid when others are brave.

It's us fun being a horse when the tractor comes along, or the blacksmith when the car comes along.

A hyperactive stock market is the pickpocket of enterprise.