“In the old legend the wise men finally boiled down the history of mortal affairs into a single phrase: ‘This too will pass.’”

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%.

If fees consume more than 1% of your assets annually, you should probably shop for another adviser.

Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.

If General Motors is worth $60 a share to an investor it must be because the full common-stock ownership of this gigantic enterprise as a whole is worth 43 million (shares) times $60, or no less than $2,600 million.

A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.

In the short run, the market is a voting machine, but in the long run it is a weighing machine.

Whether we like it or not, government intervention in the face of surplus is here to stay.

Stock speculation is largely a matter of A trying to decide what B, C and D are likely to think-with B, C and D trying to do the same.

The modern world is not geared properly to the storage of goods.

Many progressive economists insist that gold is now in essentially the same position as silver and that the arguments the simon-pure gold advocates use against the white metal can be directed with equal effect against their own fetish.

The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.

Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least some of the individual issues.

The true investor… will do better if he forgets about the stock market and pays attention to his dividend returns and to the operation results of his companies.

I saw a specialist who asked me ‘Are you familiar with the phrase faecal impaction?’. I said I think I saw that one with Glenn Close and Michael Douglas.

It’s incredible how one song or even one little phrase or just a few notes, if you really concentrate on it, can be a kaleidoscope of possibility.

If ask 100 Arkansans about the phrase, ‘the public option,’ or ‘a public option,’ you’ll get 100 different impressions about what that means.

Under Confucianism, the use of precisely measured court music, prescribed steps, actions, and phrases all added up to an extremely complex system of rituals, each used for a particular purpose at a particular time.

Fitzgerald coined the phrase the ‘Jazz Age,’ and now we’re living in the Hip-Hop Age.

If the women’s movement can be summed up in a single phrase, it is ‘the right to choose’.

My mom used to tell me, I can’t use this phrase on the radio – but basically don’t be one of those dudes hanging on the corner.

Neatness of phrase is so closely akin to wit that it is often accepted as its substitute.