If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.

An IPO is like a negotiated transaction - the seller chooses when to come public - and it's unlikely to be a time that's favourable to you.

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

The good thing is, we have household formation in this country.

The true investor welcomes volatility ... a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.

Calculate "owner earnings" to get a true reflection of value.

Working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if you are already rich.