You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.

Darwin paid particular attention to disconfirming evidence. Objectivity maintenance routines are totally required in life if you're going to be a great thinker.

Invert, always invert.

If you don't allow for self-serving bias in the conduct of others, you are, again, a fool.

Our approach has worked for us. Look at the fun we, our managers, and our shareholders are having. More people should copy us. It's not difficult, but it looks difficult because it's unconventional - it isn't the way things are normally done. We have low overhead, don't have quarterly goals and budgets or a standard personnel system, and our investing is much more concentrated than average. It's simple and common sense.

If the technology hadn't changed, they [newspapers] would still be great businesses. Network TV [in its heyday], anyone could run and do well. If Tom Murphy as running it, you'd do very well, but even your idiot nephew could do well. Fortunately, carbide cutting tools [such as those made by Iscar] don't have these types of substitutes.

To say accounting for derivatives is Americais a sewer is an insult to sewage.