Do what you love and work for whom you admire the most, and you've given yourself the best chance in life you can.

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

Does the business have a consistent operating history?

The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry - mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks.

I don't try and guess when to get in and out of the market. I have owned stocks consistently since 1942. I owned the - I was buying stocks the day before the election. I was buying the same stocks the day after election. And if Hillary had been elected, it would have been the same thing.

First come the innovators, then come the imitators, then come the idiots.

A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.