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.

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.

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

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.

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.

The Anarchists are simply unterrified Jeffersonian Democrats. They believe that 'the best government is that which governs least,' and that which governs least is no government at all.

We are only falsehood, duplicity, contradiction; we both conceal and disguise ourselves from ourselves.

To vindicate the sanctity of human life by taking it is an outrage upon reason. The spectacle of a human being dangling at the end of a gallows-rope is a degradation of humanity.

Nobody really knows whether they are a poet. I knew I was interested from the age of 15.

What users want is convenience and results.

By the age of 3, children from wealthier households hear, on average, about 500,000 encouragements and 80,000 discouragements. The ratio is reversed in households on welfare.

Many commit the same crime with a very different result. One bears a cross for his crime; another a crown.

My kids never had the advantages I had. I was born poor.

Don't be shy about making a teacher of any willing party who knows what he or she is doing.

A virus has three purposes: to duplicate, to infiltrate and to spread from one host to the next. Ultimately, even a single virus can shut down an entire system.