Success is not measured by profits alone, but by the positive impact we have on society.

I’m not a market timer. I’m a value investor.

最具韧性的经济体是那些投资于所有人的经济体。

你必须愿意经常犯错；这没什么不对的。迈克尔教会我做出最佳判断，犯错，再做出下一个最佳判断，再犯错，做出第三个最佳判断，然后让你的资金翻倍。

In investing, what is comfortable is rarely profitable.

Once in a while the phenomena we exploit are particularly present. We like a reasonable amount of volatility. In our business we want some action. “Tumult is usually good for us. We don’t have credit lines of any significance. We don’t do a lot of leveraged-type financing.

The universe is not required to be in perfect harmony with human ambition.