I have never been able to understand why the tax comes as such a body blow to many people since the rate on long-term capital gain is lower than on most likes of endeavor (tax policy indicated digging ditches is regarded as socially less desirable than shuffling stock certificates).

Derivatives are financial weapons of mass destruction.

What motivates most gold purchasers is their belief that the ranks of the fearful will grow. During the past decade that belief has proved correct. Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As 'bandwagon' investors join any party, they create their own truth - for a while.

I always invest in companies an idiot could run, because one day one will.

You need a lot of curiosity for a long, long time.

You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.

The best thing I did was choose the right heroes.