If it is hard to imagine that 20% of losses on the stock market, you should never participate

Time is your friend; impulse is your enemy.

Don't look for the needle in the haystack. Just buy the haystack!

Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.

Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.

Learn every day, but especially from the experiences of others. It's cheaper!

The mutual fund industry has been built, in a sense, on witchcraft.

Rely on the ordinary virtues that intelligent, balanced human beings have relied on for centuries: common sense, thrift, realistic expectations, patience, and perseverance.

The historical data support one conclusion with unusual force: To invest with success, you must be a long-term investor.

In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.

The miracle of compounding returns has been overwhelmed by the tyranny of compounding costs.

I get a lot of big ideas, and occasionally I actually come up with one myself.

Aleksar Greene was a boy I used to play with. He was my imaginary friend.

Where I lived, it was a cold mining place, a village called Dunston. The only time you saw a Rolls-Royce was when somebody died.

On offense, you can fumble and they still talk about you.

My parents always made education and school the number one priority. They believed that an education is the best gift you can give to your child.

I don't like to write like God. It is only because you never do it, though, that the critics think you can't do it.

All art is image making and all image making is the creation of substitutes.

Old events have modern meanings; only that survives of past history which finds kindred in all hearts and lives.

I don't hate things, but I'm turned off by arrogance. I also don't like power for the sake of power.

To expect alien technology to be just a few decades ahead of ours is too incredible to be taken seriously.