Mankind invented a system to cope with the fact that we are so intrinsically lousy at manipulating numbers. It's called the graph.

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

To me, it's obvious that the winner has to bet very selectively. It's been obvious to me since very early in life. I don't know why it's not obvious to very many other people.

Without numerical fluency, in the part of life most of us inhibit, you are like a one-legged man in an ass-kicking contest.

I regard it as very unfair, but capitalism without failure is like religion without hell.

Whoever makes you smarter a little earlier in life makes you better

Good businesses can survive a little bad management.