Remember that reputation and integrity are your most valuable assets - and can be lost in a heartbeat.

I don't invest in what I don't understand. And I don't want to understand Facebook.

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.

The tradition of always looking for the answer in the most fundamental way available - that is a great tradition, and it saves a lot of time in this world.

I find it quite useful to think of a free-market economy - or partly free market economy - as sort of the equivalent of an ecosystem. Just as animals flourish in niches, people who specialize in some narrow niche can do very well.

If the value of a company doesn't just scream out at you, it's too close.

Whenever you think something or some person is ruining your life, it's you. A victimization mentality is so debilitating.