Searching for companies is like looking for grubs under rocks: if you turn over 10 rocks you'll likely find one grub; if you turn over 20 rocks you'll find two.

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

I don't know anyone who said on their deathbed: 'Gee, I wish I'd spent more time at the office.'

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

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.

Improved turnout will give parliament and government the appearance of being more legitimate.

There seems to be an unwritten rule on Wall Street: If you don't understand it, then put your life savings into it. Shun the enterprise around the corner, which can at least be observed, and seek out the one that manufactures an incomprehensible product.