"I started out with $600, a second hand Volkswagen, and a wife. One was an asset and one was a liability. I will let you figure out which was which. I liquidated both, and still had the $600. I worked long hours, and spent weekends reading about markets. I simply love it. You have to love what you do, whether it be gardening, hairdressing, etc. When you love it, then the money follows. Even if it doesn’t, you will still be happy. Being happy and poor is better than being unhappy and poor."

“Sometimes I think our central bank will keep printing money till we run out of trees”

“When I was a young man working 14 hour days, I traded using outrageous and terrifying leverage. I was either very lucky, very smart or very dumb. That’s what terrifies people about commodities. Commodities themselves are no riskier than stocks. A stock on margin has more risk than a commodity fully paid for. It’s all about the degree of leverage.”

“Unfortunately politicians are not very sound people or they wouldn't be politicians.”

“If you bail out every investment bank that gets in trouble, that’s not capitalism, that’s socialism for the rich”

“The bottom line is this is not a war we want to get into. We can win the battle of Iraq, but that is not the war. It's not a war that can be won in the traditional sense. If we succeed in ousting Saddam Hussein, what then? Who is going to run Iraq afterwards? We cannot do it. The country is a mish mash of factions who hate each other.”

“I am dying to find a way to invest in both North Korea and Myanmar. The major changes in these two countries are among the most exciting things I see right now, looking to the future.”