The more cash that builds up in the treasury, the greater the pressure to piss it away.

Gentlemen who prefer bonds don't know what they're missing.

I like to buy a company any fool can manage because eventually one will.

Never invest in a company without understanding its finances. The biggest losses in stocks come from companies with poor balance sheets.

I can't recall ever once having seen the name of a market timer on Forbes' annual list of the richest people in the world. If it were truly possible to predict corrections, you'd think somebody would have made billions by doing it.

The biggest winners are surprises to me, and takeovers are even more surprising. It takes years, not months, to produce big results.

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