If, when making a stock investment, you're not considering holding it at least ten years, don't waste more than ten minutes considering it.

I think what people understand there probably - well, they were hoping the private sector would do it [rescuing AIG ].

I asked him what he wanted to do for his career, and he replied that he wanted to go into a particular field, but thought he should work for McKinsey for a few years first to add to his resume. To me that's like saving sex for your old age. It makes no sense.

Earnings can be pliable as putty when a charlatan heads the company reporting them.

Banking is very good business if you don't do anything dumb.

It is to our advantage to have securities do nothing price-wise for months, or perhaps years, while we are buying them.

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