The latter qualification brings to mind a fellow who applied for a job and stated he had twenty years of experience-which was corrected by a former employer to read "one year's experience-twenty times.

Buy into a company because you want to own it, not because you want the stock to go up.

Cultivate curiosity and strive to become a little wiser every day.

I mean [Franklin Delano] Roosevelt didn't - you know, when he came in, he didn't print any money.

The best way in my view is to just buy a low-cost index fund and keep buying it regularly over time, because you'll be buying into a wonderful industry, which in effect is all of American industry... People ought to sit back and relax and keep accumulating over time.

Would you rather be the world's greatest lover, but have everyone think you're the world's worst lover? Or would you rather be the world's worst lover but have everyone think you're the world's greatest lover? Now, that's an interesting question.

We make investment decisions based on our evaluation of the most profitable combination of probabilities.