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“In return for financial support will advocate admission of Jews to England; This however impossible while Charles living. Charles cannot be executed without trial on adequate grounds for which do not presently exist. Therefore advise that Charles be assassinated, but will have nothing to do with arrangements for procuring an assassin, though willing to help in his escape. [King Charles I was in prison at the time].”

“Nothing highlights better the continuing gap between rhetoric and substance in British financial services than the failure of providers here to emulate Jack Bogle's index fund success in the United States. Every professional in the City knows that index funds should be core building blocks in any long-term investor's portfolio. Since 1976, the Vanguard index funds has produced a compound annual return of 12 percent, better than three-quarters of its peer group.”

“Index funds are... tax friendly, allowing investors to defer the realization of capital gains or avoid them completely if the shares are later bequeathed. To the extent that the long-run uptrend in stock prices continues, switching from security to security involves realizing capital gains that are subject to tax. Taxes are a crucially important financial consideration because the earlier realization of capital gains will substantially reduce net returns.”

“The financial calculus that Charlie and I employ would never permit our trading a good night's sleep for a shot at a few extra percentage points of return. I've never believed in risking what my friends and family have and need in order to pursue what they don't have and don't need.”

“This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.”

“The genius of capitalism lies in its ability to make self-interest serve the wider interest. The potential of a big financial return for innovation unleashes a broad set of talented people in pursuit of many different discoveries. This system, driven by self-interest, is responsible for the incredible innovations that have improved so many lives.”

“We need to reverse three centuries of walling the for-profit and non-profit sectors off from one another. When you think for-profit and non-profit, you most often think of entities with either zero social return or zero return on capital and zero social return. Clearly, there's some opportunity in the spectrum between those extremes. What's missing is the for-profit finance industry coming in to that area. Look at the enormous diversity of the for-profit financial industry as opposed to monolithic nature of the non-profit world; it's quite astonishing.”

“As value investors, our business is to buy bargains that financial market theory says do not exist. We've delivered great returns to our clients for a quarter century-a dollar invested at inception in our largest fund is now worth over 94 dollars, a 20% net compound return. We have achieved this not by incurring high risk as financial theory would suggest, but by deliberately avoiding or hedging the risks that we identified.”

“Nowhere does it say that investors should strive to make every last dollar of potential profit; consideration of risk must never take a backseat to return. Conservative positioning entering a crisis is crucial: it enables one to maintain long-term oriented, clear thinking, and to focus on new opportunities while others are distracted or even forced to sell. Portfolio hedges must be in place before a crisis hits. One cannot reliably or affordably increase or replace hedges that are rolling off during a financial crisis.”

“Below, we itemize some of the quite different lessons investors seem to have learned as of late 2009 - false lessons, we believe. To not only learn but also effectively implement investment lessons requires a disciplined, often contrary, and long-term-oriented investment approach. It requires a resolute focus on risk aversion rather than maximizing immediate returns, as well as an understanding of history, a sense of financial market cycles, and, at times, extraordinary patience.”

“I work in lockstep, hand in glove, with the prime minister on these issues, and as we are supportive to the Eurozone so they can sort their problems out, in return they introduce safeguards to ensure precisely what I said: that the single market is not fragmented and that important industries like the financial services industry are treated fairly. Not exceptional treatment, but are just simply treated fairly, on a level playing field within Europe.”

“I was encouraged to break all the rules but to take the best of philanthropy, the best of investing, and the best of development finance, and experiment with new ways to create this venture capital model of using philanthropy to back patient capital investments, and then build solutions that were measured in terms of the kind of impact and change they were making on people's lives and in the world, not just on the financial return.”

“There's a Russia angle to all this, because remember, we don't have Donald Trump's tax returns. He did a very - relative summary, 104 page campaign financial disclosure. One year of tax returns, reportedly - we've seen the pictures, 12,000 pages. And tax returns are replete with his foreign interests, including, perhaps, his Russian interests. That may be the reason he doesn't want to turn over his taxes.”

“Once again, the puppets on Capitol Hill are about to slam the Muppets on Main Street. The country still hasn't recovered from the Wall Street-induced financial cataclysm of 2008, yet Congress is preparing to enact the Orwellian 'JOBS Act' - a bill that should in fact be called the 'Return Fraud to Wall Street in One Easy Step Act.'”