If you buy something because it's undervalued, then you have to think about selling it when it approaches your calculation of its intrinsic value. That's hard. But if you buy a few great companies, then you can sit on your ass. That's a good thing.

Most people will see declining returns [due to inflation]. One of the great defenses if you're worried about inflation is not to have a lot of silly needs in your life - you don't need a lot of material goods.

I feel that by getting rich in the way I did, I think my own example has hurt my own country.

Opportunity comes to the prepared mind.

The game is to keep learning, and I don't think people are going to keep learning who don't like the learning process.

A rough rule in life is that an organization foolish in one way in dealing with a complex system is all too likely to be foolish in another.

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