If I knew where I was going to want to live the next five or 10 years I would buy a home and I'd finance it with a 30-year mortgage... It's a terrific deal.

Success is having people love you that you want to have love you.

Fear is the foe of the faddist, but the friend of the fundamentalist.

It's a big mistake to try and mislead people. They will turn around.

So if you are evaluating others (or yourself!) in the investment field, think out some standards - apply them - interpret them.

An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if he owned all of that business.

The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it.