As your island of knowledge grows, so does the shoreline of ignorance.

The ability to do nothing is a great luxury.

These great market dislocations are where fortunes are made and lost – and where investors genuinely prove their mettle.

The irony is that we achieve far more in the long run when we have slack. We are more productive when we don’t try to be productive all the time.

To be in the investment business is to be in the business of decisions.

If you want something that’s both rare and valuable - a great job that earns you millions of dollars - you need something rare and valuable to trade in return.

Steadily, continuously, and with increasing rapidity: economies have undergone a transformation.  From bulk-material manufacturing, to design and use of technology. 

Successful people tend to seed young minds to follow their passion and not focus on money. This is nonsense.

Kim Jong-Il wrote 1,500 books and six operas during his three years at Kim Il Sung University. Apparently.

Talent is overrated. Hire for mental toughness.

Small differences in performance can lead to very unequal distributions when repeated over time.

Great thinkers, icons, and innovators think forward and backward. They drive their brain in reverse.

Many great investments are found at the nexus of businesses that are highly boring and highly complex—a disproportionate number of great investments in-fact.

Games are neat; life is messy. But both are played with incomplete information.

Each new financial crisis brings with it scar tissue and near-death experiences for many investors. But lessons are not always learned. Not all crises are remembered equally.

People who are correct a lot of the time, are people who often change their mind.

Success is idiosyncratic. Investing especially so. Finding good investments - good management teams, good entrepreneurs - is finding good fit for style.