Design a portfolio you are not likely to trade... akin to premarital counseling advice; try to build a portfolio that you can live with for a long, long time.

The best investment opportunities are often scary.

Many investors prefer comfort, chasing what is popular and loved, rather than pursuing what is out of favor. The markets do not reward comfort.

The most treasured asset in investment management is a steady hand at the tiller.

Whatever is newly expensive has two attributes: wonderful past returns and, in most cases, lousy future returns.

Successful contrarian investing requires us to live with discomfort, for being "wrong" and alone. But bargains do not exist in the absence of fear.

History teaches that when valuations are extreme, "mean reversion," a move towards historical norms, is likely. Once value stocks turn, the recovery can be fast and intense.

Whatever is cheap became cheap by treating us badly in the past, but is priced to deliver superior returns.

Diversify. But carve out 10 to 20 percent for the most unloved part of the market: emerging markets value.

Self-discovery is a sacred knowledge

When the things get hard, there is a success near about.

We are a religious people whose institutions presuppose a Supreme Being.

That sinuous southern life, that oblique and slow and complicated old beauty, that warm thick air and blood warm sea, that place of mists and languor and fragrant richness.

Some men kneel and pray, I like women and I like wine.

The Medicine Man, taking his music with him, is passing quietly into the Great Silence, where the old songs were "Received in Dreams" by "inner-plane communication."

When one does away with oneself one does the most estimable thing possible: one thereby almost deserves to live.

If at age 20 you are not a Communist then you have no heart. If at age 30 you are not a Capitalist then you have no brains.

There's always that one person that you always go back to.

It's okay saying sorry, but when you are drunk you say what you really feel.