I always invest in companies an idiot could run, because one day one will.

Beware of geeks bearing formulas.

Focus on return on equity, not earnings per share.

The rest of the world really likes our stuff pretty well. It's just we buy so damn much of what they produce.

I would rather sustain the penalties resulting from over-conservatism than face the consequences of error, perhaps with permanent capital loss, resulting from the adoption of "New Era" philosophy where trees really do grow to the sky.

Buy a cross section of American industry, and if a cross section of American industry doesn't work, certainly trying to pick the little beauties here and there isn't going to work either.

Sound investing can make you very wealthy if you're not in too big a hurry