Risk comes from not knowing what you're doing.

Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.

Someone's sitting in the shade today because someone planted a tree a long time ago.

Price is what you pay. Value is what you get.

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

In prosperous times, save diligently; in downturns, invest boldly.

-- Honda Seiroku

Know what you own, and know why you own it.

-- Peter Lynch

Invest in what you know.

-- Peter Lynch

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

-- Howard Marks

You can't predict. You can prepare.

-- Howard Marks

The most important thing is being attentive to cycles.

-- Howard Marks