I find that the standard of living does not go up in proportion with the cost of living. The trick in life is to do things that are fun all the time.

I would say the biggest single cause was we had an incredible residential real estate bubble.

Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.

If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?

If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.

Inactivity strikes us as intelligent behavior.

If you expect to continue to purchase stocks throughout your life, you should welcome price declines as a way to add stocks more cheaply to your portfolio.