Black-Scholes works for short-term options, but if it's a long-term option and you think you know something [about the underlying asset], it's insane to use Black-Scholes.

The best thing a human being can do is to help another human being know more.

Intelligent people make decisions based on opportunity costs.

Mimicking the herd invites regression to the mean.

I did not succeed in life by intelligence. I succeeded because I have a long attention span.

The big money is not in the buying and selling ... but in the waiting.

Great investing requires a lot of delayed gratification.

When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'

Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.

I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.

A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.

Whatever is destroyed, the act of destruction does not vary much. Beauty if vapour from the pit of death.

I'm surrounded by nothing but great people. I've been blessed with that, so really, I've got no choice but to be an all-around good person.

Across organizations in services, manufacturing, healthcare and government, eighty percent of an organization’s improvement potential lies in front-line ideas.

Poor, dear, silly Spring, preparing her annual surprise!

My most cryptic, strange songs might be my most personal, but that isn't how people are going to receive them, because they don't know the code.

In the deepest realm of being, is the imagination of ourselves. What is your next evolutionary leap? What are you imagining, (for yourself) right now?

I don't think any government has the means to protect us from the world reality.

There is a vast difference between failure and temporary defeat.

there comes a time in every rabbi's life when he thinks he's Moses.

It is not enough to be exceptionally mad, licentious and fanatical in order to win a great reputation; it is still necessary to arrive on the scene at the right time.