The key to success is emotional stability.

You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.

What could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?

If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.

Diversification is protection against ignorance. It makes little sense if you know what you are doing.

Chains of habit are too light to be felt until they are too heavy to be broken.

There are three kinds of people: 1. Innovators. 2. Imitators. 3. Idiots.