Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.

The Fed is the greatest hedge fund in history.

Wide diversification is only required when investors do not understand what they are doing.

The extraordinary business does not require good management.

If past history was all there was to the game, the richest people would be librarians.

I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.

Just imagine living on 21,000 a year. I mean you have 20 percent of the population doing that. So you don't have to worry about guys like me.