Remember that the stock market is manic-depressive.

We do not view the company itself as the ultimate owner of our business assets but instead view the company as a conduit through which our shareholders own assets.

I made my first investment at age eleven. I was wasting my life up until then.

What we really want to do is buy businesses that we would be happy to own forever.

We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'

Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.

It is unquestionably true that the investment companies have their money more conventionally invested than we do. To many people conventionality is indistinguishable from conservatism. In my view, this represents erroneous thinking. Neither a conventional nor an unconventional approach, per se, is conservative.