History is replete with examples of tech firms that were marginalized by new companies and technologies.

The market is going to love it. The market always seems to applaud major mergers, even though the vast majority of them don't work out and don't increase shareholder value.

Never forget this simple truism: Forecasting is marketing, plain and simple.

The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.

Salesmen always need something to sell.

This ugly duckling investment will likely need time - quarters, or even years - to blossom into a beautiful swan.

If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.

One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.

Unlike cheap stocks, inexpensive asset classes have a lower chance of big drawdowns (broad asset classes don't go to zero) and a higher probability of average or better returns.

Returnless risk is not how you prepare for a decent retirement.

Keynes vs Hayek? Friedman vs Krugman? Those are the wrong intellectual debates. Its you vs. Tony Hayward, BP CEO, You vs. Lloyd Blankfein, Goldman Sachs CEO. And you are losing...

Those folks out in the space suits are going to be getting beat up.

Standing up to your government can mean standing up for your country.

Your intent is important. You will pull a very deep power when you are working not just for yourself, but you are working for your enlightenment and to aid others in their enlightenment.

Women's golf definitely hit a bump in the road. We lost some tournaments due to a combination of things led by the downturn in the economy.

It is not hard to deceive ministers, relatives and friends. But it is impossible to deceive Christ.

The thing is, work is the thing I love the most.

I adore the work of Stephen Sondheim. I like musicales in general. They make surprisingly great running tapes.

[Patrick Leonard] is such a magnificent composer. I don't think there is anybody working today with those kind of skills that could translate one of my tunes into that really beautiful chamber music.

You don't change what you love or you never loved it to begin with.

The laws of art are eternal and don't change at all, as the moral laws don't change in human beings.