In the financial world it tends to be misleading to state, "There is no free lunch." Rather the more meaningful comment is, "Somebody has to pay for …

- Martin J. Whitman

Rarely do more than three or four variables really count. Everything else is noise.

- Martin J. Whitman

Based on my own personal experience – both as an investor in recent years and an expert witness in years past – rarely do more than three or four var…

- Martin J. Whitman

We attracted a lot of market timers and asset allocators. I don't need those ... amateurs in my fund.

- Martin J. Whitman

If I learn 1,000 techniques with my luck I'll go out on the street and be attacked by number 1,001.

- Martin J. Whitman

We ignore outlooks and forecasts... we're lousy at it and we admit it ... everyone else is lousy too, but most people won't admit it.

- Martin J. Whitman

Diversification is a surrogate - and a damn poor surrogate - for knowledge, elements of control, and priceconsciousness.

- Martin J. Whitman