"Any time I claimed to be white, that would be unacceptable. It just doesn't make sense in people's minds. If I'm white, how can I walk through a department store and still have people scared that I'm going to rob them? Which, that can still happen."

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Successful investors like stocks better when they’re going down. When you go to a department store or a supermarket, you like to buy merchandise on sale, but it doesn’t work that way in the stock market. In the stock market, people panic when stocks are going down, so they like them less when they should like them more. When prices go down, you shouldn’t panic, but it’s hard to control your emotions when you’re overextended, when you see your net worth drop in half and you worry that you won’t have enough money to pay for your kids’ college.

— Seth Klarman