Volatility is a symptom that people have no idea of the underlying value.

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.

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.

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.

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.

‎A day in which I don't write leaves a taste of ashes.

I don't do drugs. If I want a rush I just stand up when I'm not expecting it.

He is as full of valor as of kindness. Princely in both.

I have to tell them that last night was a shameful train wreck filled with blind cuddly puppies.

My mother was a failed actress, but that was our bread and butter - what we loved most to do was to go to the theater and talk about it and dissect it and understand it.

Only fools worship their tools

I don't need a man. I'm really happy with myself and being with my friends.

Even modern wars are fought like revenge tales from some petty grievance.

I like to have success experiences rather than failure experiences. So I'm more likely to compete in things I'm good at, and more likely to spend time on the things I expect to succeed at.

I don't eat sugary cereal.