We don't inherit the earth from our ancestors; we borrow it from our children—this must guide every business decision.
The key to successful investing is to control what you can control: costs, taxes, and behavior.
Human beings, viewed as behaving systems, are quite simple. The apparent complexity of our behavior over time is largely a reflection of the complexity of the environment in which we find ourselves.
The major credit I think Jim and I deserve... is for selecting the right problem and sticking to it.
The future is just a fucking concept we use to avoid the present.