At age 19, I read a book [The Intelligent Investor] and what I'm doing today, at age 76, is running things through the same thought process I learned from the book I read at 19.

I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.

You could be somewhere where the mail was delayed three weeks and do just fine investing.

If you gave me the choice of being CEO of General Electric or IBM or General Motors, you name it, or delivering papers, I would deliver papers. I would. I enjoyed doing that. I can think about what I want to think. I don't have to do anything I don't want to do.

In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.

You pay a very high price in the stock market for a cheery consensus.

We have a country where I don't know whether it's a million households a year or more, but good form.