The single greatest edge an investor can have is a long-term orientation.

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

Value investing is at its core the marriage of a contrarian streak and a calculator.

The most important thing is being attentive to cycles.

-- Howard Marks

All bubbles break. All of them. Without exception.

-- Jeremy Grantham

I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.

-- Paul Tudor Jones

If everybody is buying something, I would tend to sell. If nobody is interested in something, I would tend to buy.

-- Jim Rogers

Buy stocks, take sleeping pills, and stop looking at the papers. After many years you will see: you are rich.

-- André Kostolany

When the crowd is lost in a selling frenzy, it is logical that a short squeeze will follow; know this as an opportunity to buy.

-- Honma Munehisa