“In the short-run, the market is a voting machine – reflecting a voter-registration test that requires only money, not intelligence or emotional stability – but in the long- run, the market is a weighing machine.”

In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility.

… the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street.

It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits. These virtues, if channeled in the wrong directions, become indistinguishable from handicaps.

It must be fundamentally wrong to reduce production of food and fiber while one-third of our population is still ill fed and ill clothed.

The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.

There is a close logical connection between the concept of a safety margin and the principle of diversification.

You must never delude yourself into thinking that you’re investing when you’re speculating.

Both a priori reasoning and experience teach us that as as these funds grow larger the geometrical rate of growth by compound interest ultimately defeats itself.

As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily against him.

Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.

In security analysis the prime stress is laid upon protection against untoward events. We obtain this protection by insisting upon margins of safety, or values well in excess of the price paid.

The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices.

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.

We have not known a single person who has consistently or lastingly make money by thus “following the market”. We do not hesitate to declare this approach is as fallacious as it is popular.

An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd.

It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.

I’d rather make music than tour.

The red I wear is Indiana’s red, not Moscow’s red. Indiana was here long before communism.

If you’re callin’ ’bout my heart, it’s still yours / I should’ve listened to it a little more / Then it wouldn’t have taken me so long / To know where I belong

Education enables people and societies to be what they can be. It is education that allows us to see that we are in this for the long haul, and it is education that will give us the tools we need to build a better future.

There’s a metal train that a mile long and at the very back end a lightning bolt struck her. How long til it reaches and kills the driver, provided that he’s a good conductor?

It turns out there’s only one thing that capuchins really, really love – and that’s sweet stuff. If you give them a big vat of say, marshmallow fluff, and you let them go at it.

Anti-Semitism and Fascism have a long, mysterious, bewildering, poisonous and vile history and it’s not exclusive to the Germans.

The only thing that will really change global warming in the long run is if we radically increase the speed with which we get alternative technologies to deal with climate change.