Graham's wonderful sentence as, an investor needs only two things: cash and courage. Having only one of them is not enough.

The single greatest edge an investor can have is a long-term orientation.

Value investing is at its core the marriage of a contrarian streak and a calculator.

Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.

In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a speculative undertaking.

Investment success cannot be captured in a mathematical equation or a computer program.

Patience and discipline can make you look foolishly out of touch until they make you look prudent and even prescient

The near absence of bargains works as a reverse indicator for us. When we find there is little worth buying, there is probably much worth selling.

As Buffett has often observed, value investing is not a concept that can be learned and gradually applied over time. It is either absorbed and adopted at once, or it is never truly learned.

The overwhelming majority of people are comfortable with consensus, but successful investors tend to have a contrarian bent.

Every big castle was once started with a single block

One reason we resist making deliberate choices is that choice equals change and most of us, feeling the world is unpredictable enough, try to minimise the trauma of change in our personal lives.

I listen to a wide variety of music of all genres, but sometimes you just need a cheesy pop song.

They might have been all-right people doing the best they could, but I got to tell you, you got a dead cat lying in your yard you ought to bury it. That’s my motto.

You have to live a life to become a writer.

My mother, brave woman, lost her whole family when she decided to marry a black man in the 60s. When the marriage fell apart, she had to come back to her family.

There are more than 27 million people enslaved in the world today - that's double the amount of people taken from Africa during the entire trans-Atlantic slave trade.

I live a very dull life here... indeed I think I am more like a state prisoner than anything else.

Wedlock is the deep, deep peace of the double bed after the hurly-burly of the chaise lounge.

The most destitute person in the world is the one without a smile.