I did not think I would see the day when, you know, an AIG would not be able to have its checks clear.

A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.

I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.

You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map.

Money will always flow toward opportunity, and there is an abundance of that in America.

You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.

Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers.