Unlike cheap stocks, inexpensive asset classes have a lower chance of big drawdowns (broad asset classes don't go to zero) and a higher probability of average or better returns.

The market is going to love it. The market always seems to applaud major mergers, even though the vast majority of them don't work out and don't increase shareholder value.

Never forget this simple truism: Forecasting is marketing, plain and simple.

The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.

Salesmen always need something to sell.

This ugly duckling investment will likely need time - quarters, or even years - to blossom into a beautiful swan.

If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.

One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.

Returnless risk is not how you prepare for a decent retirement.

History is replete with examples of tech firms that were marginalized by new companies and technologies.

Keynes vs Hayek? Friedman vs Krugman? Those are the wrong intellectual debates. Its you vs. Tony Hayward, BP CEO, You vs. Lloyd Blankfein, Goldman Sachs CEO. And you are losing...

Ever day is a chance given to better your yesterday and brighten your tomorrow

[O]ld enough to be wise yet young enough to be willing to partake in an arduous crusade.

One cannot escape the harsh fact that as a ministerial profession, the priesthood has very serious problems. They are not new. They did not develop yesterday or last year.

[If] You don't like the rule, change the rule; but play by the rules.

Most people spend far more time in preparation for their vocation than they do in preparation for marriage.

The long path from material through function to creative work has only one goal: to create order out of the desperate confusion of our time.

I had already been into my professional career for six years and had not won an individual gold medal at the Olympics. There was a tremendous amount of pressure going into 1996 to get it done.

Photography is the most direct communication in non-violent contacts.

Somehow I had turned myself into the worst thing in the world: I was just another man who wanted to teach me something!

There was a taboo as a result of the Holocaust that people respected that anti-Semitism was an ugly thing and should be avoided. Now that taboo seems to have been broken with impunity.