If you're in a card game and you can't figure out who the patsy is, you're it.

I would say the most satisfying thing actually is watching my three children each pick up on their own interests and work many more hours per week than most people that have jobs at trying to intelligently give away that money in fields that they particularly care about.

I do know that when I am 60, I should be attempting to achieve different personal goals than those which had priority at age 20.

We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

The rich invest in time, the poor invest in money.

Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.