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

Market price, while used exclusively to value our investments in minority positions, is not a relevant factor when applied to our controlling interests.

You are neither right nor wrong because the crowd disagrees with you.

I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.

The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.

The Stock Market is designed to transfer money from the Active to the Patient.

If you want to shoot rare, fast-moving elephants, you should always carry a loaded gun.