The trick is, when there is nothing to do, do nothing.

A single year's performance is of minor importance and, good or bad, should never be taken seriously.

The stock market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch.

Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.

By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.

In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.

I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.