Gold has two significant shortcomings, being neither of much use nor procreative.

One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.

So some guy may know how to make money in cocoa beans, but I don't so I just let him have that. But it's got to be something I understand. It's got to be a business with fundamentally good economics. It's got to be a management that I like and trust and admire. And it's got to be a price that makes sense.

I don't have my diploma from the University of Nebraska hanging on my office wall, and I don't have my diploma from Columbia up there either-but I do have my Dale Carnegie graduation certificate proudly displayed.

You can't buy what is popular and do well.

Investment students need only two well-taught courses - How to Value a Business and How to Think About Market Prices

How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.