Investing is where you find a few great companies and then sit on your ass.

You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.

An idea or a fact is not worth more merely because it's more available to you.

The more hard lessons you can learn vicariously rather than through your own hard experience, the better.

It never ceases to amaze me to see how much territory can be grasped if one merely masters and consistently uses all the obvious and easily learned principles.

Wells Fargo behaves better than the average big bank. But nobody's perfect.

You'll find many markets where bottlers of Pepsi and Coke both make a lot of money and many others where they destroy most of the profitability of the two franchises. That must get down to the peculiarities of individual adjustment to market capitalism. I think you 'd have to know the people involved to fully understand what was happening.