We are not so brazen as to believe that we can perfectly calibrate valuation; determining risk and return for any investment remains an art not an exact science

The single greatest edge an investor can have is a long-term orientation.

Value investing is at its core the marriage of a contrarian streak and a calculator.

Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.

In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a speculative undertaking.

Investment success cannot be captured in a mathematical equation or a computer program.

Patience and discipline can make you look foolishly out of touch until they make you look prudent and even prescient

The near absence of bargains works as a reverse indicator for us. When we find there is little worth buying, there is probably much worth selling.

As Buffett has often observed, value investing is not a concept that can be learned and gradually applied over time. It is either absorbed and adopted at once, or it is never truly learned.

The overwhelming majority of people are comfortable with consensus, but successful investors tend to have a contrarian bent.

If the system turns away from the abuses inflicted on the guilty, then who can be next but the innocents?

I have never been a superstar and never believed in it.

Never like seein' strangers. Guess it's cause no stranger ever good newsed me.

I really appreciate my performing so much better, as I get older. I don't take it for granted anymore. I really relish it and love it.

In Baby You're A Rich Man the point was, stop moaning, you're a rich man and we're all rich, heh heh, baby!

My most treasured possessions are not things; they are only things, my friends, family and animals are what counts.

I have listened And I have looked With open eyes. I have poured my soul Into the world Seeking the unknown Within the known. And I sing out loud In amazement.

I pay editors. I never ask friends or colleagues to work for free.

When you understand one thing through and through, you understand everything.

I love being in a band. I love that collaborative spirit, although some would suggest that I don't get involved in the collaborative spirit, but it's not true.