You should invest in a business that even a fool can run, because someday a fool will.

Long ago, Ben Graham taught me that "Price is what you pay; value is what you get." Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.

You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.

The best way in my view is to just buy a low-cost index fund and keep buying it regularly over time, because you'll be buying into a wonderful industry, which in effect is all of American industry... People ought to sit back and relax and keep accumulating over time.

Never give up searching for the job that you're passionate about.

Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.

If you don't know jewelry, know the jeweler.