Continually challenge and be willing to amend your best loved ideas.

The single most important decision in evaluating a business is pricing power.

I know that Congress will do the right thing.

In the long run managements stressing accounting appearance over economic substance usually achieve little of either.

We've had public companies in the past in that business and they bleed. We've got a lot more blood than they do.

Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.