Basically, we try to buy value expressed in the differential between its price and what we think its worth.

We like to buy stocks which we feel are undervalued and then we have to have the guts to buy more when they go down.

If the market were way over priced, I wouldn't own any stocks.

One of the tricks of this business is, keep your losses down.

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

I'm not very good on timing. In fact, I've stayed away from it.

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