“The Noah Rule: Predicting Rain Doesn’t Count;

I've Never Been Very Fully Employed Either But Just Think Of What It's Like, You Know, To Go Home With A Mortgage Payment You Know And Kids And Everything Else. My Dad Had That Happen To Him In The Early '30s.

In A Difficult Business, No Sooner Is One Problem Solved Than Another Surfaces - Never Is There Just One Cockroach In The Kitchen.

My Rather Puritanical View Is That Any Investment Manager, Whether Operating As Broker, Investment Counselor Of A Trust Department, Investment Company, Etc., Should Be Willing To State Unequivocally What He Is Going To Attempt To Accomplish And How He Proposes To Measure The Extent To Which He Gets The Job Done.

I Am Not In The Business Of Predicting General Stock Market Of Business Fluctuations. If You Think I Can Do This, Or Think It Is Essential To An Investment Program, You Should Not Be In The Partnership.

A Prediction About The Direction Of The Stock Market Tells You Nothing About Where Stocks Are Headed, But A Whole Lot About The Person Doing The Predicting.