Be careful of leverage. It can go against you.

Graham liked the idea of protection on the downside.

You have to be a little aware of the emotions of the people who have invested with you.

Try to establish the value of a company.

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

All the publicity about value investing - it's become a very popular thing.

We do not spend a great deal of time talking to management.