You know, with your money and my brains, I mean, there's no telling how far we'd go.

You're neither right nor wrong because other people agree with you. You're right because your facts are right and your reasoning is right - that's the only thing that makes you right. And if your facts and reasoning are right, you don't have to worry about anybody else.

Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that is not reportable by us under standard accounting principles than to purchase $1 of earnings that is reportable.

We make investment decisions based on our evaluation of the most profitable combination of probabilities.

A lot of people disagree with me on this, I believe in mark to market.

An investor will succeed by coupling good business judgment with an ability to insulate his thoughts and behavior from the super-contagious emotions that swirl about the marketplace.

During inflation, Goodwill is the gift that keeps on giving.