“I Always Knew I Was Going

Stop Trying To Predict The Direction Of The Stock Market, The Economy Or Elections.

“Take The Probability Of Loss Times The Amount Of Possible Loss From The Probability Of Gain Times The Amount Of Possible Gain. That Is What We’re Trying To Do. It’s Imperfect, But That’s What It’s All About.”

If You Can't Communicate And Talk To Other People And Get Across Your Ideas, You're Giving Up Your Potential.

If Some Institution Wants To Sell You A Billion Dollars Worth Of Mortgages, They Might Have To Sell 100 Million In The Market, And Then You'll Buy The Other 900 Million On The Same Terms. Now, The Very Fact That This Has Been Authorized Or Will Be Authorized, I Hope, Will Firm Up The Market To Some Degree. And That's Fine. But You Don't Want To Have Artificial Prices Being Paid.

“Forecasts May Tell You A Great Deal About The Forecaster; They Tell You Nothing About The Future.”