You must value the business in order to value the stock.

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?'

Those who keep learning, will keep rising in life

It's simplicity itself that its future will be way worse than its past.

[In picking stocks] You really have to know a lot about business. You have to know a lot about competitive advantage. You have to know a lot about the maintainability of competitive advantage. You have to have a mind that quantifies things in terms of value. And you have to be able to compare those values with other values available in the stock market.

This is a good life lesson: getting the right people into your system is the most important thing you can do.

When you borrow a man's car, always return it with a tank of gas.