It takes character to sit there with all that cash and do nothing. I didn't get to where I am by going after mediocre opportunities.

If you get into the mental habit of relating what you're reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.

How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.

I get flack for saying [when I visit a college and give a speech], "This is a nice college, but the really great educator is McDonald's." They hate me for saying this and think I'm a slimy creature. But McDonald's hires people with bad work habits, trains them, and teaches them to come to work on time and have good work habits. I think a lot of what goes on there is better than at Harvard.

The way to win is to work, work, work, work and hope to have a few insights And you're probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It's just that simple.

A great business at a fair price is superior to a fair business at a great price.

The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It's just that simple.