A lot of companies have lots of assets tied up in plant and equipment. Well, is it old plant, or is it new plant?

Earnings can change dramatically. Usually assets change slowly.

I'm a passive investor. There are people who are very aggressive; they try to buy companies.

I was in Graham's office the day he bought GEICO. Warren owns one-third of the stock today.

Don't be afraid to be a loner but be sure that you are correct in your judgement.

Fear and greed are probably the worst emotions to have in connection with the purchase and sale of stocks.

You have to invest the way that's comfortable for you.