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My investors expect me to maximize profits.

It is important for investors to understand what they do and don't know. Learn to recognize that you cannot possibly know what is going to happen in the future, and any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.

Your initial instincts about investments and people are usually correct. We do a lot of due diligence in this business and most of the time it comes out where we started.

The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don't, so we buy. Then people start selling, panic sets in, and we sell too.

I'm always investing. I'm constantly in talks with someone about some opportunity.

In any investment, you expect to have fun and make money.

Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed.

There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.

Investing is a business where you can look very silly for a long period of time before you are proven right.