Quotes

Modern life creates successful bureaucracy and successful bureaucracy breeds failure and stupidity.

My system in life is to figure out what's really stupid and then avoid it. It doesn't make me popular, but it prevents a lot of trouble.

The great lesson in microeconomics is to discriminate between when technology is going to help you and when it’s going to kill you.

It’s not given to human beings to have such talent that they can just know everything about everything all the time.

Averaged out, betting on the quality of a business is better than betting on the quality of management. In other words, if you have to choose one, bet on the business momentum, not the brilliance of the manager.

There are huge advantages for an individual to get into a position where you make a few great investments and just sit back. You're paying less to brokers. You're listening to less nonsense.

Only novel "soft-shelled" ideas produce extraordinary returns, because the obvious ideas are already reflected in a stock's price.

It's absolute cockamamie crazy to sell stocks after they drop. Instead, you should say, "Today there's a first-rate bargain and I'm buying."

The mistake most people make is answering the door just because Mr. Market knocks. You don't have to let him in.

Most of the destruction of investment value occurs in small, private anguishing experiences that are never discussed and never recorded, because people were doing things they never should have done.

If you go to the stock market because you want excitement, then sooner or later you will lose.

Benign neglect is the secret to long-term investing success.