If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.

If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.

Outstanding long-term results are produced primarily by avoiding dumb decisions, rather than by making brilliant ones.

I understand Goldman Sachs businesses. We do lot of business with him, and GE has been - I think it's the longest running stock in the Dow Jones industrial average. It will be 100 years now it will be around. I hope I'm around then, too. And it was an attractive investment. And we have had a lot of money around, over the last two years, and we're seeing things that are attractive now.

If you don't know jewelry, know the jeweler.

There is nothing like writing to force you to think and get your thoughts straight.

When you listen to tax-cut rhetoric, remember that giving one class of taxpayer a break requires - now or down the line - that an equivalent burden be imposed on other parties. In other words, if I get a break, someone else pays. Government can't deliver a free lunch to the country as a whole. It can however, determine who pays for lunch.