You only have to do a very few things right in your life so long as you don't do too many things wrong.
It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.
Diversification is protection against ignorance. It makes little sense if you know what you are doing.
Successful investing takes time, discipline, and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant.
Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.


