We believe there should be a huge area between everything you should do and everything you can do without getting into legal trouble. I don't think you should come anywhere near that line. We don't deserve much credit for this. It helps us make more money. I'd like to believe that we'd behave well even if it didn't work. But more often, we've made extra money from doing the right thing. Ben Franklin said I'm not moral because of it's the right thing to do - but because it's the best policy.

We try more to profit from always remembering the obvious than from grasping the esoteric.

If you rise in life, you have to behave in a certain way. You can go to a strip club if you're a beer-swilling sand shoveler, but if you're the Bishop of Boston, you shouldn't go.

Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough.

We have the same problem as everyone else: It's very hard to predict the future.

I don't want to understand Facebook.

Mimicking the herd invites regression to the mean.