The best thing a human being can do is to help another human being know more.

We only want what success we can get despite encouraging others to share our general view about reality.

Never, ever, think about something else when you should be thinking about the power of incentives.

A director who gets $150,000 per year from a company and needs the money is not independent.

It's a good habit to trumpet your failures and be quiet about your successes.

If you buy something because it's undervalued, then you have to think about selling it when it approaches your calculation of its intrinsic value. That's hard. But if you buy a few great companies, then you can sit on your ass. That's a good thing.

The ethical rule is from Samuel Johnson who believed that maintenance of easily removable ignorance by a responsible office holder was treacherous malfeasance in meeting moral obligation. The prudential rule is that underlying the old Warner & Swasey advertisement for machine tools: "The man who needs a new machine tool, and hasn't bought it, is already paying for it". The Warner & Swasey rule also applies, I believe, to thinking tools. If you don't have the right thinking tools, you, and the people you seek to help, are already suffering from your easily removable ignorance.