Being too far ahead of your time is indistinguishable from being wrong.

You can't predict. You can prepare.

To achieve superior results, you have to have an edge in either information or analysis. And the former is increasingly hard to get.

The most important thing is being attentive to cycles.

In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.

-- Peter Lynch

You can't predict. You can prepare.

-- Howard Marks

Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.

-- George Soros

The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.

-- George Soros

At the root of all financial bubbles is a good idea carried to excess.

-- Seth Klarman

On the stock exchange, anything is possible, including the opposite.

-- André Kostolany