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“It is saying less than the truth to affirm that an excellent book (and the remark holds almost equally good of a Raphael as of a Milton) is like a well-chosen and well-tended fruit tree. Its fruits are not of one season only. With the due and natural intervals, we may recur to it year after year, and it will supply the same nourishment and the same gratification, if only we ourselves return to it with the same healthful appetite.”

“Is there a rarer being, Is there a fairer sphere Where the strong are not unseeing, And the harvests are not sere; Where, ere the seasons dwindle They yield their due return; Where the lamps of knowledge kindle While the flames of youth still burn?”

“There are a few investment managers, of course, who are very good - though in the short run, it's difficult to determine whether a great record is due to luck or talent. Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship. Rather than listen to their siren songs, investors - large and small - should instead read Jack Bogle's The Little Book of Common Sense Investing.”

“It is said that what is called "the spirit of an age" is something to which one cannot return. That this spirit gradually dissipates is due to the world's coming to an end. For this reason, although one would like to change today's world back to the spirit of one hundred years or more ago, it cannot be done. Thus it is important to make the best out of every generation.”