My father was the best person i've ever known.

Always invest for the long term.

Investing is the greatest business in the world because you never have to swing. You stand at the plate; the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity. All day you wait for the pitch you like; then, when the fielders are asleep, you step up and hit it.

A newspaper that reduces its coverage of the news important to its community is certain to reduce its readership as well

The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry - mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks.

The trick is, when there is nothing to do, do nothing.

The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.