If the value of a company doesn't just scream out at you, it's too close.

Even if you assume that the whole economy would work better had we never had double taxation, having the envy and resentment of the richest paying low or no taxes screams of injustice. You have to have a fair system.

It's dishonourable to stay stupider than you need to be

Don't confuse correlation and causation. Almost all great records eventually dwindle.

Cicero's words also increased my personal satisfaction by supporting my long-standing rejection of a conventional point of view.

If (investing) weren't a little difficult, everybody would be rich.

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.