Legal rules are not merely predictions of what courts will do, but are reasons for action.

I like to tell a story and not explain it.

The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists.

I've learned that you can't control everything, but you can control how you react to it.

永远不要停止学习。当你认为自己无所不知时，就是你失败的时候。

Die Freiheit ist ein Gut, das man täglich neu erobern muss.