A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable, problem.

If past history was all there was to the game, the richest people would be librarians.

If you don't know jewelry, know your jeweler.

I went from a colon to a semicolon. (After an operation that removed polyps from his colon)

Like Hell, derivative trading is easy to enter, but difficult to leave.

My idea of a group decision is to look in the mirror.

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

Our favourite holding period is forever.

Risk comes from not knowing what you're doing.

Someone's sitting in the shade today because someone planted a tree a long time ago.

To expect big prizes for small investments is to encourage stupid behavior.

Two rules:
1. Preserve the principal
2. When in doubt see Rule #1

Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

Wide diversification is only required when investors do not understand what they are doing.

You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with the 130 IQ.

You need Dobermans on (executive compensation) committees, but what you mainly get is Chihuahuas that have been sedated.