We really can say no in 10 seconds or so to 90%+ of all the things that come along simply because we have these filters.

John Maynard Keynes essentially said, don't try and figure out what the market is doing. Figure out a business you understand, and concentrate.

Always invest for the long term.

What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.

Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers.

The nature of democracy is such that when there's - there'll be revulsion, obviously, towards - that's never going to happen again.

We need to throw the resources at this that are necessary. But like I say, we are not spending money. I mean, if we buy these assets intelligently, the United States Treasury will make money. I mean, it's borrowing money. It's just a few percent a year.