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.

Never test the depth of river with both the feet.

I like to buy things I can understand. I do a lot of research on things.

If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.

A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.

People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the most important client in the world-themselves.

The same things happen to quite an extent around the globe. I mean, the European banks were doing what the American banks were.