When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'

Those who will not face improvements because they are changes, will face changes that are not improvements.

You need to have a passionate interest in why things are happening. That cast of mind, kept over long periods, gradually improves your ability to focus on reality. If you don't have the cast of mind, you're destined for failure even if you have a high I.Q.

In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell.

I don't want to sell credit to people who are going to hurt themselves with it. You should only sell products that are good for the people who use them. Some disagree with this, but I know I'm right. That is to say, you're talking to a Republican who admires Elizabeth Warren.

You need a different checklist and different mental models for different companies. I can never make it easy by saying, 'Here are three things.' You have to derive it yourself to ingrain it in your head for the rest of your life.

Knowing what you don't know is more useful than being brilliant.