Intensity is the price of excellence.

I put heavy weight on certainty. It's not risky to buy securities at a fraction of what they're worth.

One observer commenting on security analysts over forty stated: "They know too many things that are no longer true." As long as I am "on stage", publishing a regular record and assuming responsibility for management of what amounts to virtually 100% of the net worth of many partners, I will never be able to put sustained effort into any non-BPL activity. If I am going to participate publicly. I can't help being competitive. I know I don't want to be totally occupied with out-pacing an investment rabbit all my life. The only way to slow down is to stop.

The purpose of life is to be loved by as many people as possible among those you want to have love you

Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.

Can you know you can have institutions that put curbs on that in various ways, and actually what the banks, you know, they have various capital ratios and that sort of thing, but the banks got around them, I mean, they set up sieves and that sort of thing just to get more leverage. People love leverage when it's working. I mean, it's so easy to borrow money from a guy at X and put it out at X.

I think any time you couple the term "Wall Street" with "bailout" or something like that, you know - I don't like what's going on in Wall Street.