It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.

Whatever you like to do, make it a hobby and whatever the world likes to do, make it a business.

There is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation.

Stocks are the only thing that people are happy to buy when the price goes up.

I think that actually people in my situation should be paying more tax.

This country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.

If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.