I’d compare stock pickers to astrologers but I don’t want to bad mouth astrologers.

I take the market-efficiency hypothesis to be the simple statement that security prices fully reflect all available information.

In an efficient market at any point in time the actual price of a security will be a good estimate of its intrinsic value.

Active management is a zero-sum game before cost, and the winners have to win at the expense of the losers.

An investor doesn’t have a prayer of picking a manager that can deliver true alpha.

After taking risk into account, do more managers than you’d see by chance outperform with persistence? Virtually every economist who studied this question answers with a resounding 'no.'

Remember that sometimes not getting what you want is a wonderful stroke of luck.

Poetry is an extra hand. It can caress or tickle. It can clench and fight.

Computer Science is a science of abstraction -creating the right model for a problem and devising the appropriate mechanizable techniques to solve it.

We're actually making stuff in America now. We're exporting stuff. We're inventing things.

There is a vast region of enormous potential located somewhere between your ears.

Without this great land of ours, we would all drown.

Do some work in the theater if you can. It is the best training you can get.

I'm a vegan. It makes me feel really good and bright.

A leader has the capacity of vision, the ability to see where things are headed before people in general see those things.

Fortune's not content with knocking a man down; she sends him spinning head over heels, crash upon crash.