When people talk about cash being king, it's not king if it just sits there and never does anything.

I've never been very fully employed either.

We need to throw the resources at this that are necessary. But like I say, we are not spending money. I mean, if we buy these assets intelligently, the United States Treasury will make money. I mean, it's borrowing money. It's just a few percent a year.

Lethargy, bordering on sloth should remain the cornerstone of an investment style.

If you cannot control your emotions, you cannot control your money.

Buy stocks like you buy your groceries, not like you buy your perfume.

What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital.