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

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

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.

It is wrong to be dependent on the body-complex [pudgal]. One should depend only on the Soul.

Say what you have to say, not what you ought. Any truth is better than make-believe.

You can't wrestle forever. It's a very physically taxing job. There's no doubt about it. Physically, and more importantly, mentally.

Everyday is a good day, just some days are better

After all, the wrong road always leads somewhere.

In Britian we have a free press. It's not a pretty press, but it's free. The people who can't bear the Daily Mail, they say: 'you should ban it'. No, no, no, no, you don't ban it... you don't buy it.

The bones of the skeleton which support the body can become the bars of the cage which imprison the spirit.

Some of the most interesting questions needing to be asked today can best be asked on television, or on stage, and they can be wonderful, great dramas, but they won't necessarily be blockbusters.

Look at every situation as if you were in the future and you were looking back on it.

People think because you're private, you have something you don't want them to know.