The Stock Market Is A Wonderfully Efficient

How Do You Beat Bobby Fischer? You Play Him At Any Game But Chess. I Try To Stay In Games Where I Have An Edge.

In A Bull Market, One Must Avoid The Error Of The Preening Duck That Quacks Boastfully After A Torrential Rainstorm, Thinking That Its Paddling Skills Have Caused It To Rise In The World. A Right-thinking Duck Would Instead Compare Its Position After The Downpour To That Of The Other Ducks On The Pond.

... But The Important Thing Is That When You Do Find One Where You Really Do Know What You Are Doing, You Must Buy In Quantity.... Charlie And I Have Made A Dozen Or So Very Big Decisions Relative To Net Worth, Although Not As Big As They Should Have Been. And In Each Of Those, We've Known That We Were Almost Certain To Be Right Going In.

The Patient That's On The Floor With The Cardiac Arrest Is Not Wall Street. It's The American Economy.

The Less Prudence With Which Others Conduct Their Affairs, The Greater The Prudence With Which We Should Conduct Our Own Affairs.