Most institutional investors feel compelled to swing at almost every pitch and forgo batting selectivity for frequency.

The single greatest edge an investor can have is a long-term orientation.

Value investing is at its core the marriage of a contrarian streak and a calculator.

Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.

In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a speculative undertaking.

Investment success cannot be captured in a mathematical equation or a computer program.

Patience and discipline can make you look foolishly out of touch until they make you look prudent and even prescient

The near absence of bargains works as a reverse indicator for us. When we find there is little worth buying, there is probably much worth selling.

As Buffett has often observed, value investing is not a concept that can be learned and gradually applied over time. It is either absorbed and adopted at once, or it is never truly learned.

The overwhelming majority of people are comfortable with consensus, but successful investors tend to have a contrarian bent.

In every area of politics, the goal is control.

Since your mindset can make you or break you, how is it going? Is it representing you well or does it need a complete overhaul?

I don't think you can get any more working class than me. Everyone seems posh to me.

Ideas, as distinguished from events, are never unprecedented.

Obama is not a brown-skinned anti-war socialist who gives away free healthcare. You're thinking of Jesus.

Be cautious, but not too cautious; do not be too much afraid of making a mistake; a man who never makes a mistake will make nothing.

An organization is a set of relationships that are persistent over time.

Now that I am a deputy, I will cease to be an agitator.

You were one person, and you changed the world.

I steer my bark with hope in the head, leaving fear astern.