People went crazy with tulip bulbs. They went crazy with the South Sea Bubble, they went crazy internet stocks, they went crazy with the uranium stocks back when I was first getting started.

A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.

If I eat 2,700 calories a day, a quarter of that is Coca-Cola.

It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. In the stock market you don't base your decisions on what the market is doing, but on what you think is rational. Bridge is about weighing gain/loss ratios. You're doing calculations all the time.

Forecasts usually tell us more of the forecaster than of the forecast

The most important investment you can make is in yourself... nobody can tax it or take it away from you.

Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.