All intelligent investing is value investing — acquiring more that you are paying for. You must value the business in order to value the stock.

– Charlie Munger

Clear thinking becomes clear writing; one can’t exist without the other. It’s impossible for a muddy thinker to write good English.

– William Zinsser, On Writing Well

If all your colleagues have tried to demonstrate that something’s true and failed, it might be because that thing is not true.

– Richard Feynman

Nations that forget their history lack the power to create it.

– Narendra Modi

We will make electricity so cheap that only the rich will burn candles.

– Thomas Edison

Voltaire thought that history is the record of the crimes and absurdities of mankind. I thought that was a very unworthy definition. I should say history is the record of the activities of mankind and it has two sides — one is the crimes and absurdities and the other is the contributions to civilization, the lasting developments which enabled each generation to proceed with a larger heritage than the one before. And that to me is the meaning of history.

Link

Price means nothing other than the equilibrium of liquidity.

– John Burbank

Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios, which frequently appear downright imprudent in the eyes of conventional wisdom.

– David Swensen