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

The investor of today does not profit from yesterday's growth.

If you can't read the scoreboard. You don't know the score. If you don't know the score, you can't tell the winners from the losers.

Chains of habit are too light to be felt until they are too heavy to be broken.

Money is not everything. Make sure you earn a lot before speaking such nonsense.

The latter qualification brings to mind a fellow who applied for a job and stated he had twenty years of experience-which was corrected by a former employer to read "one year's experience-twenty times.

Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay.