Investing requires qualities of temperament way more than it requires qualities of intellect.

Don't settle for anything other than your passion - if you're lucky enough to find it.

Remember that the stock market is manic-depressive.

During inflation, Goodwill is the gift that keeps on giving.

Does management resist the institutional imperative?

The only time to buy these is on a day with no 'y' in it.

I don't want to give a lecture to this body that's out there. You know, I mean, having had the heart attack, I want to get it back functioning. And as a practical matter, I mean if you were Bear Stearns, and you were a shareholder, you know, you lost 90 to 95 percent of your money. A good many lost their jobs. They lost very cushy lives, many of them.