Diversification is a surrogate - and a damn poor surrogate - for knowledge, elements of control, and priceconsciousness.

If I learn 1,000 techniques with my luck I'll go out on the street and be attacked by number 1,001.

Based on my own personal experience – both as an investor in recent years and an expert witness in years past – rarely do more than three or four variables really count. Everything else is noise.

We ignore outlooks and forecasts... we're lousy at it and we admit it ... everyone else is lousy too, but most people won't admit it.

Rarely do more than three or four variables really count. Everything else is noise.

In the financial world it tends to be misleading to state, "There is no free lunch." Rather the more meaningful comment is, "Somebody has to pay for lunch."

We attracted a lot of market timers and asset allocators. I don't need those ... amateurs in my fund.

Look beyond the present circumstances, imagine a brighter future.

Women thrive on novelty and are easy meat for the commerce of fashion. Men prefer old pipes and torn jackets.

I'm a very social person and I love being out in the world, and the feeling of not having that is the scariest thing to me.

If someone is responsible, it's me.

Affliction is a sort of moral gymnasium in which the disciples of Christ are trained to robust exercise, hardy exertion, and severe conflict.

In blues music, there's a lot of borrowing, so it's often difficult to identify the originator of a song.

One night you will ask me for something I cannot give.

Dreaming is to think by moonlight by the light of an inner moon.

There is no book so bad that some good can not be got out of it.

The Internet is great for things, like finding the answers to things you pretended to know or stalking people.