The essence of investment management is the management of risks, not the management of returns.

The end of history will be a very sad time. The struggle for recognition, the willingness to risk one's life for a purely abstract goal, the worldwide ideological struggle that called forth daring, courage, imagination, and idealism, will be replaced by economic calculation, the endless solving of technical problems, environmental concerns, and the satisfaction of sophisticated consumer demands.

"You don’t need to walk the path that others have walked. You don’t need to suffer the same scars."