The active investors will have their returns diminished by a far greater percentage than will their inactive brethren. That means that the passive group - the "know-nothings" - must win.

Intensity is the price of excellence.

Ignore the stock market, ignore the economy, and buy a business you understand.

Inflation could be a very - is a likely consequence out of what's going on now.

There is no question we have an access stock.

When investing, pessimism is your friend, euphoria the enemy.

The important thing is to keep playing, to play against weak opponents and to play for big stakes.