By setting up Berkshire Hathaway, Warren has done everything very rationally.

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

Timidity prompted by past failures causes investors to miss the most important bull markets.

You know, people tend to like to buy companies that are doing well.

If you are honest, hardworking, reasonably intelligent and have good common sense, you can do well in the investment field as long as you are not too greedy and don't get too emotional when things go against you.

Be sure that debt does not exceed 100% of the equity.

Sell is tough. It's the worst, it's the most difficult thing of all.