99% of fund managers demonstrate no evidence of skill whatsoever.

For the taxable investor, indexing means never having to say you're sorry.

Bluntly put, there's no chance that your doctor, dentist, or attorney is a high-school dropout. Your stockbroker, however, just might be.

The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.

The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell.

There are two kinds of investors, be thay large or small: those who don't know where the market is headed, and those who don't know that they don't know.

You have to understand what market history looks like. What market history tells you is that the very, very best investments are made when things look the worst.

If your broker or investment advisor is not familiar with the concept of standard deviation of returns, get a new one.

Wall Street is littered with the bones of those who knew just what to do, but could not bring themselves to do it.

All the things that make us human make us terrible investors and you have to understand what they are and how to avoid them.

When it comes to fund managers and market strategists, this year's hero usually turns into next year's zero.

Who are we without our memories?

Thank God we're living in a country where the sky's the limit, the stores are open late and you can shop in bed thanks to television.

I just smoked a Cohiba the other day. It was great. You have to appreciate everything that cigar is.

If you read the good reviews you gotta read the bad reviews. I kind of think of it as like being a quarterback: you get way too much blame when it's bad and way too much credit when it's good.

One has two duties - to be worried and not to be worried.

When you send out real love, real love will return to you.

I have won elections and I have lost elections.

People who don't drink are afraid of revealing themselves.

Manic depression's touching my soul. I know what I want, but I just don't know how to go about getting it.