If past history was all there was to the game, the richest people would be librarians.

A pack of lemmings looks like a group of rugged individualists compared with Wall Street when it gets a concept in its teeth.

You do not adequately protect yourself by being half awake when other are sleeping.

Anything can happen in stock markets and you ought to conduct your affairs so that if the most extraordinary events happen, that you're still around to play the next day.

Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.

The Noah rule: Predicting rain doesn't count; building arks does.

The big question about how people behave is whether they've got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.