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Provide in advance for the needs of thy growing age and the protection of thy family."

George S. Clason • The Richest Man in Babylon

The three things I have found helpful in coping with its challenges are: Have low expectations. Have a sense of humor. Surround yourself with the love of friends and family.

Charles T. Munger • Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger

also learned from my losing silver investment that when the interests of the salesmen and promoters differ from those of the client, the client had better look out for himself.

Edward O. Thorp • A Man for All Markets

investors who understand the power law make as few investments as possible.

Peter Thiel, Blake Masters • Zero to One

My friend and fellow value investor, Chris Browne, President of Tweedy Browne,describes what value investors do by telling this story. He was interviewing a new trader andafter the interview, walked them through the Tweedy Browne offices. At the elevator on theirway out, the trader commented, “At other Wall Street firms, just by walking through the... See more

Seth Klarman • Seth A. Klarman remarks at MIT

We want the business to be (1) one that we can understand, (2) with favorable long-term prospects, (3) operated by honest and competent people, and (4) available at a very attractive price. We ordinarily make no attempt to buy equities for anticipated favorable stock price behavior in the short term. In fact, if their business experience continues

Warren Buffett • Berkshire Hathaway Letters to Shareholders, 2018

through a combination of self-discipline and sound risk assessment, even when market conditions reverse.

Stephen A. Schwarzman • What It Takes

First, be unreliable. Do not faithfully do what you have engaged to do. If you will only master this one habit you will more than counterbalance the combined effect of all your virtues, howsoever great. If you like being distrusted and excluded from the best human contribution and company, this prescription is for you. Master this one habit and you... See more

Charlie Munger • “How to Guarantee a Life of Misery”

“Be fearful when others are greedy and greedy when others are fearful.” His objective was to outperform the market in the long run and so he judged himself largely on his performance relative to the market.