Investors should remember that excitement and expenses are their enemies.

My friends and I have been coddled long enough by a billionaire-friendly Congress.

Your money can be inflated away but your knowledge and talent cannot.

My job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action.

Long ago, Ben Graham taught me that "Price is what you pay; value is what you get." Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.

If AIG had tried to unwind their derivatives books. I don't know. It would have hit every institution in the world.

I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.