Read 500 pages every day. That's how knowledge works. It builds up like compound interest.

Only when the tide goes out do you discover who's been swimming naked.

By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.

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

You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?

I choose to work with every single person that I work with. That ends up being the most important factor. I don't interact with people I don't like or admire. That's the key. It's like marrying.

Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.