An investor should act as though he had a lifetime decision card with just twenty punches on it.

Goldman Sachs saying they might be interested in such an investment. I'm familiar with the company. I've known the management, the current management, Jack Welch before Jeff Immelt. I've known him for decades.

I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter.

The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.

Don't risk what is important to you, to get what is not important to you.

Investment must be rational; if you can't understand it, don't do it.

Investment philosophy is the clear understanding that by owning shares of stocks he owns businesses, not pieces of paper.