I hate gold. It does not pay a dividend, it has no value, and you can't work out what it should or shouldn't be worth," he said. "It is the last refuge of the desperate.

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.

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

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.

Life's not black-and-white. Sometimes the ends justifies the means.

Motivation is Power, Power is Motivation

Two spectrums generate our thoughts … one comes from fear and the other from love. Every emotion in between starts at one of those two places.

If you want a definition of what a coward is, it’s needing to push a whole class of people down so that you can walk on top of them.

July does not a November election make.

Investing for the poor requires participation from the entire community.

Let a man avoid evil deeds as a man who loves life avoids poison.

I followed the law. Before God, before the law, before the people of the state of Florida who elected me, I know that I followed the law.

In an odd way, my parents were proud of me. When they saw me do stand-up, I'd see them looking around the room and watch them taking in the people laughing. On some level, that comforted them.

Hey, I'm a former union president myself and also an attorney that represented a lot of unions.