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.

法律是一种强制秩序。

秩序是美所依赖的形状。

You miss 100% of the shots you don’t take.

It’s not the world that’s cruel. It’s the people in it.