“If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.”

There’s no way that you can live an adequate life without many mistakes. In fact, one trick in life is to get so you can handle mistakes. Failure to handle psychological denial is a common way for people to go broke.

I’m right, and you’re smart, and sooner or later you’ll see I’m right.

If you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.

If we’ve been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.

People always underestimate the ability of earth to increase its carrying capacity.

Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.

I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.

The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.

You’re not going to get very far in life based on what you already know. You’re going to advance in life by what you’re going to learn after you leave here.

The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It’s just that simple.

Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.

In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.

The average result has to be the average result. By definition, everybody can’t beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That’s just the way it is.

To me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.

Never, ever, think about something else when you should be thinking about the power of incentives.

Common stock investors can make money by predicting the outcomes of practice evolution. You can’t derive this by fundamental analysis – you must think biologically.

A man should not strive to eliminate his complexes but to get into accord with them: they are legitimately what directs his conduct in the world.

Life is about conduct and how we conduct ourselves. But two wrongs never make a right.

Surveys like this are also conducted by other countries. We should handle this calmly under international law.

It may be that you are not yourself luminous, but that you are a conductor of light. Some people without possessing genius have a remarkable power of stimulating it.

The great rule of conduct for us, in regard to foreign nations, is, in extending our commercial relations, to have with them as little political connection as possible.

All the great religions contain wise prescriptions relating to the conduct of life, which hold good now as they did when they were promulgated.

System to all things is the soul of business. To execute properly and act maturely is the way to conduct it to your advantage.

Freedom of inquiry will produce liberality of conduct.