The single most important decision in evaluating a business is pricing power.

The time to buy stocks is consistently over time. You should never buy your investments with the idea, 'I have to get a certain return.' You should look at the best return possible and learn to live with that. But you should not try to make your investments earn what you feel you need. It doesn't work that way. The stock doesn't know you own it.

Time is the friend of the wonderful company, the enemy of the mediocre.

In the end we must have people to match our principles, not the reverse.

Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

The most dangerous distractions are the ones you love, but that don’t love you back.

Be brave when others are afraid, and afraid when others are brave.