Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.

The most important organ in the body as far as the stock market is concerned is the guts, not the head. Anyone can acquire the know-how for analyzing stocks.

I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading 'Now is the time to buy.'

You should not buy a stock because it's cheap but because you know a lot about it.

Long-term investing has gotten so popular, it's easier to admit you're a crack addict than to admit you're a short-term investor.

Twenty years in this business convinces me that any normal person using the customary three percent of the brain can pick stocks just as well, if not better, than the average Wall Street expert.

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.