“Excessive regulation in the banking reform bill will destroy a substantial part of our bond-distributing machinery.”

It is important for investors to understand what they do and don’t know. Learn to recognize that you cannot possibly know what is going to happen in the future.

Can anyone expect that a step of this kind will improve the quality of our long-term investments?’

Keynes vs Hayek? Friedman vs Krugman? Those are the wrong intellectual debates. Its you vs. Tony Hayward, BP CEO, You vs. Lloyd Blankfein, Goldman Sachs CEO. And you are losing…

This ugly duckling investment will likely need time – quarters, or even years – to blossom into a beautiful swan.

For those of you who may be unaware, [Michael] Boskin is the economist/weasel/fraud who helped to officially distort the CPI, making it more or less worthless as a measure of inflation.

Returnless risk is not how you prepare for a decent retirement.

Unlike cheap stocks, inexpensive asset classes have a lower chance of big drawdowns (broad asset classes don’t go to zero) and a higher probability of average or better returns.

I find it funny that people who didn’t think there was any inflation in the pipeline are now talking about stagflation.

Rather than engage in the sort of selective retention that so many investors tend to do and pretend mistakes never happened, I prefer to own them. This allows me to learn from them and, with any luck, avoid making the same errors again.

The market is going to love it. The market always seems to applaud major mergers, even though the vast majority of them don’t work out and don’t increase shareholder value.

One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.

If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.

History is replete with examples of tech firms that were marginalized by new companies and technologies.

Salesmen always need something to sell.

And any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.

The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.

You cannot divide creative juices from human juices. And as long as juicy women are equated with bad women, we will err on the side of being bad.

You cannot guess or measure the terrible endless longing to see the gates opened, and to be able to join the white figures within.

I like the nucleus that we have. I’m excited. I want to be here as long as possible. It’s like family. I love being here.

What audiences love with series is that they can invest in characters for such a long period of time, and it’s the same for actors. You can truly tell your story; then it’s done.

Life isn’t long enough for love and art.

As long as I’m facing the right direction, it doesn’t matter the size of my steps.

Spoon feeding in the long run teaches us nothing but the shape of the spoon.

But there are innumerable instances in human life where a single association, never reinforced, results in the establishment of a life-long dynamic system.