Too often, a vast collection of possessions ends up possessing its owner.

Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.

I don't read economic forecasts. I don't read the funny papers.

Investing is the greatest business in the world because you never have to swing. You stand at the plate; the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity. All day you wait for the pitch you like; then, when the fielders are asleep, you step up and hit it.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

If I taught a class, on my final exam I would take an Internet company and ask, 'How much is this company worth?' Anyone who would answer, I would flunk.

The smartest side to take in a bidding war is the losing side.