In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.

I think the worst mistake you can make in stocks is to buy or sell based on current headlines.

I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that ...I'm paying $32 billion today for the Coca Cola Company because... If you can't answer that question, you shouldn't buy it. If you can answer that question, and you do it a few times, you'll make a lot of money.

To be successful, you should concentrate on the world of companies, not arcane accounting mathematics.

If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter.

Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisors will come up with whatever projections are needed to justify his stance. Only in fairy tales are emperors told that they are naked.

People went crazy with tulip bulbs. They went crazy with the South Sea Bubble, they went crazy internet stocks, they went crazy with the uranium stocks back when I was first getting started.