“I think high turnover is definitively the investor's enemy, so you don...” — John C. Bogle Quote

“I think high turnover is definitively the investor's enemy, so you don't want to bring a high-turnover philosophy to this business. You want to have a long-term philosophy.”

“Well, bitcoin is a currency. Bitcoin has no underlying rate of return. You know, bonds have an interest coupon. Stocks have earnings and dividends. Gold has nothing, and bitcoin has nothing. There is nothing to support the bitcoin except the hope that you will sell it to somebody for more than you paid for it.”

“The average hedge fund manager is going to earn zero per cent in extra return.”

“I would always advise young people to follow their star - not my star. They have to live their own life. If they decide they want to go into the investment business, do it, but make it a better business than it is today.”

“When a door closes, if you look long enough and hard enough, if you're strong enough, you'll find a window that opens.”

“Investing is a virtuous habit best started as early as possible.”

“If you are going to be a great investor, you have to fit the style to who you are.”

“What is the most common investor mistake? Trading - getting in and getting out at all the wrong times, for all the wrong reasons.”

“Calling the new company Live Nation Entertainment is a big statement. Let's make sure we send a strong message from the first investor call.”

“A lot of times when you're an investor, it's very easy to lean back and say, 'Well, people should come to me in Silicon Valley.' YC has the opposite opinion.”

“If you're looking for investment you've got to think about what the investor gets from being involved with your business. A lot of people think about what they're getting from their point of view but not about what the investor gets out of a deal.”

“One thing on psychology, which we've always known, is that every investor says they're long-term - and they are until the market takes a hit.”