“It is worth pointing out that assuredly not more than one person out of a hundred who stayed in the market after after 1925 emerged from it with a net profit and that the speculative losses taken were appalling.”

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.

The utility, or intrinsic value of gold as a commodity is now considerably less than in the past; its monetary status has become extraordinarily ambiguous; and its future is highly uncertain.

Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble… to give way to hope, fear and greed.

Rather should we say that the market is a voting machine, whereon countless individuals register choices which are the product partly of reason and partly of emotion.

Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.

No statement is more true and better applicable to Wall Street than the famous warning of Santayana: “Those who do not remember the past are condemned to repeat it”.

If I advance; follow me. If I retreat; kill me. If I die; avenge me! It is better to live one day as a lion than one-hundred years as a sheep!

But don’t blame me for the food. My wife knows a hundred and one ways to incinerate a cow, and as far as I can tell she’s still experimenting.

Hey now, none of that. You know i don’t have one evil bone in my body. Only two hundred and six of them?

I have never been carried around by a large boy, or laughed until my stomach hurt at the dinner table, or listened to the clamor of a hundred people all talking at once. Peace is restrained; this is free.

When I reappear it will be in the dusky ring, which is something like the state of the air supposing the siege of Sebastopol conducted from a forest of guns 100 miles one way, and 30,000 miles the other, and the shot never to stop, but go spinning away round a circle, radius 170,000 miles.

Better to live a day as a lion than 100 years as a sheep

But when a book comes out, it’s just hundreds of opinions and you have to learn to separate out the ones you want to listen to or figure out many you want to listen to.

When I was a child I asked my mother what homosexuality was about and she said – and this was 100 years ago in Germany and she was very open-minded – ‘It’s like hair color. It’s nothing. Some people are blond and some people have dark hair. It’s not a subject.’ This was a very healthy attitude.