After taking risk into account, do more managers than you’d see by chance outperform with persistence? Virtually every economist who studied this question answers with a resounding 'no.'

I’d compare stock pickers to astrologers but I don’t want to bad mouth astrologers.

I take the market-efficiency hypothesis to be the simple statement that security prices fully reflect all available information.

In an efficient market at any point in time the actual price of a security will be a good estimate of its intrinsic value.

Active management is a zero-sum game before cost, and the winners have to win at the expense of the losers.

An investor doesn’t have a prayer of picking a manager that can deliver true alpha.

The weight of knowledge is too great for one mind to absorb.

I think actions speak louder than words. You can do all the hyping you want. It doesn't mean anything.

It was not one folly that Shakespeare talked about. If Love truly is but a myriad of follies then I have committed them all, that can mean only one thing - I loved her truly, madly, deeply!

You didn't just show up on planet Earth by accident.. You were handpicked by Almighty God.

Good leadership is pervasive, persuasive, and persistent. Bad leadership is poisoned with pedanticism, posturing, self-importance.

You want to be commercially successful and critically acclaimed. But the truth is, there's only a few Bruce Springsteens and Paul McCartneys out there.

If we are serious about our discipleship, Jesus will eventually request each of us to do those very things which are most difficult for us to do.

Look within. The heart is the foundation of virtue; and it is for eternity ready to do virtuous works.

The only thing I was trying to portray was serenity. Also, innocence, vulnerability and elegance.

My mind speaks English, my heart speaks Russian, and my ear prefers French.