A burning itch to know is higher than a solemn vow to pursue truth. To feel the burning itch of curiosity requires both that you be ignorant, and that you desire to relinquish your ignorance.
Commodities tend to zig when the equity markets zag.
Acknowledge the complexity of the world and resist the impression that you easily understand it. People are too quick to accept conventional wisdom, because it sounds basically true and it tends to be reinforced by both their peers and opinion leaders, many of whome have never looked at whether the facts support the received wisdom. It's a basic fact of life that many things "everybody knows" turn out to be wrong.
Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows.
If everyone thinks one way, it is likely to be wrong. If you can figure out that it is wrong, you are likely to make a lot of money.
One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do. I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I wait for a situation that is like the proverbial shooting fish in a barrel.
Buy low and sell high. It's pretty simple. The problem is knowing what's low and what's high.
Sometimes, very occasionally, you do your best boxing with your mouth.
People generally think that it is the world, the environment, external relationships, which stand in one's way, in the way of ones' good fortune. . . and at bottom it is always man himself that stands in his own way.
So precious life is! Even to the old, the hours are as a miser's coins!
Contrary to what many skeptics had earlier believed, the Soviet economy is proof that a socialist command economy can function and even thrive.