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Diversification is protection against ignorance. It makes little sense if you know what you are doing.

( Warren Buffett )

Speculation is dealing with the uncertain conditions of the unknown future. Every human action is a speculation in that it is embedded in the flux of time.

( Ludwig von Mises )

Sometimes buying early on the way down looks like being wrong, but it isn’t.

( Randy Thurman )

The investor’s chief problem — and even his worst enemy — is likely to be himself.

( Benjamin Graham )

No matter what kind of math you use, you wind up measuring volatility with your gut.

( Ed Seykota )

The policy of being too cautious is the greatest risk of all.

( Jawaharlal Nehru )

In investing, what is comfortable is rarely profitable.

( Robert Arnott )