“It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.”

One’s knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.

The key to selecting the winner isn’t choosing the face you think is the most beautiful but rather the face other people will pick

Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.

To our generation Einstein has been made to become a double symbol – a symbol of the mind travelling in the cold regions of space, and a symbol of the brave and generous outcast, pure in heart and cheerful of spirit.

Words ought to be a little wild, for they are the assault of thoughts on the unthinking.

By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.

I’d rather be vaguely right than precisely wrong.

Everything is always decided for reasons other than the real merits of the case.

The Economic Problem, the problem of want and poverty and the economic struggle between classes and nations, is nothing but a frightful muddle, a transitory and unnecessary muddle.

It is a good thing to make mistakes so long as you’re found out quickly.

The considerations upon which expectations of prospective yields are based are partly existing facts which we can assume to be known more or less for certain, and partly future events which can only be forecasted with more or less confidence.

Well, when I get new information, I rethink my position. What, sir, do you do with new information?

The destruction of the inducement to invest by an excessive liquidity-preference was the outstanding evil, the prime impediment to the growth of wealth, in the ancient and medieval worlds.

It would be foolish, in forming our expectations, to attach great weight to matters which are very uncertain.

By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

Investing is an activity of forecasting the yield over the life of the asset; speculation is the activity of forecasting the psychology of the market.