Quote Discovery

"Never invest in a business you cannot understand."

"The margin of safety is always dependent on the price paid."

"Wide diversification is only required when investors do not understand what they are doing."

"Money is of a prolific generating nature. Money can beget money, and its offspring can beget more."

"Invert, always invert."

"Wise people step on big and growing troubles early."

"Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway."

"The most important quality for an investor is temperament, not intellect."

"Risk comes from not knowing what you're doing."

"In volatile markets, your exit point is not a price target. It's when the fundamental reason for the trade starts to reverse. You get out first and ask questions later."