Bargains are the holy grail of the true stockpicker. The fact that 10 to 30 percent of our net worth is lost in a market sell-off is of little consequence. We see the latest correction not as a disaster but as an opportunity to acquire more shares at low prices. This is how great fortunes are made over time.

The stock market really isn't a gamble, as long as you pick good companies that you think will do well, and not just because of the stock price.

The extravagance of any corporate office is directly proportional to management's reluctance to reward the shareholders.

Never buy anything that you can't illustrate on the back of a napkin.

The real key to making money in stocks is not to get scared out of them.

If all the economists in the world were laid end to end, it wouldn't be a bad thing.

My high-tech aversion caused me to make fun of the typical biotech enterprise: $100 million in cash from selling shares, one hundred Ph.D.'s, 99 microscopes, and zero revenues.