I knew that maybe I couldn't be playing again, but I just wanted to get in physical shape.
The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You buy businesses you understand.
Mistakes are the best teachers. One does not learn from success. It is desirable to learn vicariously from other people's failures, but it gets much more firmly seared in when they are your own.
You don’t make money when you buy stocks. And you don’t make money when you sell stocks. You make money by waiting.
Wall Street sometimes gets confused between risk and uncertainty, and you can profit handsomely from that confusion. The low-risk, high-uncertainty [situation] gives us our most sought after coin-toss odds. Heads, I win; tails, I don't lose much.
Heads I win, tails I don’t lose much.
Warren Buffett has said many times that people either get value investing in five minutes or they won't get it in five years. So, there is something in the human brain, that for some of us, makes all the difference in the world right away and the patience it requires is part of the wiring process.
New York has made me so paranoid, too. Whenever I visit another city, I always act like I'm from there, so the cab driver doesn't rip me off. I'm always like, "Yeah, it's good to be back home. Back here where I grew up. Yeah. Here in Tokyo. . . . Uh, driver, I need to go to my old stomping grounds. That would be the Holiday Inn. And the address appears to be the pound sign. "
If you cross Fox News Channel, it's not just me, it's Roger Ailes who will go after youThe person gets what's coming to them but never sees it coming. Look at Al Franken, one day he's going to get a knock on his door and life as he's known it will change forever. That day will happen, trust me.
All my life, to this day, the memory of my childhood remains grim and incoherent. If I close my eyes and think back, I see little except violence and fear. In those early years, I somehow came to understand I would have to draw from within myself whatever emotional resources I needed to go wherever I was headed. As a result, for years, I became a boy who lived almost totally within himself.
I really believe in the environmental movement right now - it only takes a little effort to make a big difference.