We're still in a recession. We're not gonna be out of it for a while, but we will get out.

I knew a lot about what I did when I was 20. I had read a lot, and I aspired to learn everything I could about the subject.

If you want to shoot rare, fast-moving elephants, you should always carry a loaded gun.

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.

Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we're trying to do. It's imperfect, but that's what it's all about.

Mr. Market is your servant, not your guide.

Ben's Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient markets, dynamic hedging and betas. Their interest in such matters is understandable, since techniques shrouded in mystery clearly have value to the purveyor of investment advice. After all, what witch doctor has ever achieved fame and fortune by simply advising 'Take two aspirins'?