You pay a very high price in the stock market for a cheery consensus.

Of our 49 billion, we haven't moved any to Bitcoin

What could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?

It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.

I just don't see anything available that gives any reasonable hope of delivering such a good year and I have no desire to grope around, hoping to 'get lucky' with other people's money. I am not attuned to this market environment, and I don't want to spoil a decent record by trying to play a game I don't understand just so I can go out a hero.

First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy.

He must never forget Charlie's plea: Tell me where I'm going to die, so I'll never go there.