I did not succeed in life by intelligence. I succeeded because I have a long attention span.

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

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

We get these questions a lot from the enterprising young. It's a very intelligent question: You look at some old guy who's rich and you ask, 'How can I become like you, except faster?'

The first chance you have to avoid a loss from a foolish loan is by refusing to make it; there is no second chance.

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.

Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that's the way we filter out buying opportunities.