Never risk what you have and need for what we don't have and don't need.

You do not adequately protect yourself by being half awake when other are sleeping.

What's nice about investing is you don't have to swing at every pitch.

Remember that the stock market is manic-depressive.

When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.

We intend to continue our practice of working only with people whom we like and admire. This policy not only maximizes our chances for good results, it also ensures us an extraordinarily good time.

A single year's performance is of minor importance and, good or bad, should never be taken seriously.