It's a lot easier to buy things than it is to sell them.

Earnings can be pliable as putty when a charlatan heads the company reporting them.

The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you....it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.

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

In the great majority of cases we simply do not know enough about the industry or company to come to sensible judgments-in that situation we pass.

Emotional makeup is more important than technical skill

If I knew where I was going to want to live the next five or 10 years I would buy a home and I'd finance it with a 30-year mortgage... It's a terrific deal.