The stock market is a no-called-strike game. You don't have to swing at everything — you can wait for your pitch. The problem when you're a money manager is that your fans keep yelling, "Swing, you bum!"

If a man didn't make mistakes he'd own the world in a month. But if he didn't profit by his mistakes he wouldn't own a blessed thing.

Anyone who has become rich twice is dumb. Why would you risk what you need and have for what you don’t need? If you are already rich, there is no upside to taking on a lot more risk, but there is disgrace on the downside.

The genuine investor in common stocks does not need a great equipment of brain and knowledge, but he does need some unusual qualities of character

If you're unwilling to try new things and to fail and learn, you don't have a shot

I did very little marketing. The key is to make your clients money. If you have a good track record, people will find you and knock on your door. Just make your clients money.