In the real world, illiquid assets carry a discount.

As an investor my job is to figure out what will happen rather than what should happen.

The loss was not bad luck. It was bad analysis.

You have a certain set of facts and you are looking for situations where you have an edge, whether the edge is psychological or statistical.

A 99% Value-at-Risk calculation does not evaluate what happens in the last one percent... This is like an airbag that works all the time, except when you have a car accident.

What do you call a stock that's down 90%? A stock that was down 80% and then got cut in half.

When you leave a good job to go off on your own and don't expect to make money for a while, you name the firm whatever your wife says you should.

What is uncertain is how much further the bubble can expand, and what might pop it.

Ive got a fantasy-baseball team with my brother. But I have to admit, he does all the work.

To doubt the existence of God is the greatest delusion.

Kingdom involves a king and his influence over a domain

...I'm shy in person - so afraid to confess my love - I need a go-between - our mutual friend, the Moon...

A person who takes a concrete place and convert it into a garden of flowers is a real magician!

In a change of masters the poor change nothing except their master's name.

I believe there are certain types of movements which cannot be married.

I'm not a horror fans as much as I'm a fan of thrillers.

I may not be able to say all I think; but I am not going to say anything I do not think.

In the simplest of terms, what we are doing in Korea is this: We are trying to prevent a third world war.

I want a Supreme Court that doesn't always side with corporate interests.