I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.

You can't run the economy on BMWs alone. If the average person is in a pickle, how do you have a healthy economy?

Remember that history always repeats itself. Every great bubble in history has broken. There are no exceptions.

I believe the only things that really matter in investing are the bubbles and the busts

The individual is far better-positioned to wait patiently for the right pitch while paying no regard to what others are doing, which is almost impossible for professionals.

Although value is a weak force in any single year, it becomes a monster over several years. Like gravity, it slowly wears down the opposition.

Volatility is a symptom that people have no idea of the underlying value.

Battering down solar cells on the roofs of Wal-Marts in California. I think that will be some of the highest-return investments that anyone ever makes.

By background I'm both a Quaker and a Yorkshireman, which I like to call double jeopardy.

The pure administration of Graham-and-Doddery really needs a long-term lock-up like Warren Buffett has, or it will have occasional quite dreadful client problems.

Modern agriculture has been accurately described as a way of turning oil into food. As the price of oil continues to rise, so will the price of food.

I always pet a dog with my left hand because if he bit me I'd still have my right hand to paint with.

This is a vision Kaufman and Broad shares with Henry Cisneros, and together we have the resources and expertise to make vital new neighborhoods a reality.

You subscribe politics to it. I subscribe freedom to it.

Don't you study about other folks's business till you take care of your own.

The high wage begins down in the shop. If it is not created there it cannot get into pay envelopes. There will never be a system invented which will do away with the necessity for work.

To be truly wealthy, we must be able to give more than what we receive.

What find you better or more honourable than age? Take the preheminence of it in everything, in an old friend, in old wine, in an old pedigree.

A Christian is committed to the belief that Love and Mercy are the most powerful forces on earth.

Loyalty is my biggest thing.