Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.

The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.

Two rules: 1. Preserve the principal 2. When in doubt, see Rule #1.

There is no staff. I make all the investment decisions and I do all my own analysis.

When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.

Never give up searching for the job that you’re passionate about. Try to find the job you’d have if you were independently rich. Forget about the pay. When you’re associating with the people that you love, doing what you love, it doesn’t get any better than that.

If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station - I'm talking of the past - you know, your idiot nephew could run it. And if you've got a really good business, it doesn't make any difference.