We do not have, nor have had, and never will have an opinion about where the stock market, interest rates, or business activity will be a year from now.

Unless your answers are clearly better, copy the answers of your betters.

Activity is the enemy of investment returns.

I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life.

For some reason people take their cues from price action rather than from values. Price is what you pay. Value is what you get.

The best asset is your own self. You can become to an enormous degree the person you want to be

I lose confidence in other people, all kinds of institutions.