Quotes

Wall Street in boom days is an aggregation of madmen. The Stock Exchange becomes Bedlam well dressed.

In the beginning of a stock market boom it is ever the "dear public," the fleecy lambs, the most guileless victims, who make the most money. They really do not know when to stop winning, and so in the end they lose profit and principal.

Greed is a bandage which a higher power sometimes binds across the eyes of reason.

Fortunes are made and lost by thousands of men in the stock market; they are made and kept by a few dozen.

In the stock market, facts are important, but emphasis is all important.

I’m a very blocking and tackling kind of a thinker. I just try and avoid being stupid.

All successful investment involves trying to get into something where it’s worth more than you’re paying.

Over the long-term, big companies of America behave more like biology than they do anything else. In biology, all the individuals die and so do all the species. It’s just a question of time. And that’s pretty well what happens in the economy too.

A lot of smart people think they’re way smarter than they are, and therefore they do worse than dumb people. And it’s very common to be utterly brilliant and think you’re way the hell smarter than you are.

I’m a big fan of knowing the big ideas in pretty much all the disciplines -- the ones that are pretty easy to assimilate -- and then using those routinely in your judgments. That’s just my system.

If you want to succeed in investments, start early and try hard and keep doing it. All success comes that way, by and large.

When investors -- individual and institutional alike -- engage in far more trading --inevitably with one another -- than is necessary for market efficiency and ample liquidity, they become, collectively, their own worst enemies.