It Is Better To Be Roughly Right

Pyramid-building, Earthquakes, Even Wars May Serve To Increase Wealth, If The Education Of Our Statesmen On The Principles Of The Classical Economics Stands In The Way Of Anything Better.

It Is The Long Term Investor Who Will In Practice Come In For The Most Criticism. For It Is The Essence Of His Behaviour That He Should Be Eccentric, Unconventional And Rash In The Eyes Of The Average Opinion. If He Is Successful, That Will Only Confirm The General Belief In His Rashness; And If In The Short Run He Is Unsuccessful, Which Is Very Likely, He Will Not Receive Much Mercy. Worldly Wisdom Teaches That It Is Better For Reputation To Fail Conventionally Than To Succeed Unconventionally.

The Atomic Hypothesis Which Had Worked So Splendidly In Physics Breaks Down In Psychics.

For My Own Part, I Believe That There Is Social And Psychological Justification For Significant Inequalities Of Incomes And Wealth.

Successful Investing Is Anticipating The Anticipations Of Others.