You should invest like a Catholic marries: for life.

A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.

We try to buy businesses with good-to-superb underlying economics run by honest and able people and buy them at sensible prices. That's all I'm trying to do.

You have to understand accounting and you have to understand the nuances of accounting. It's the language of business and it's an imperfect language, but unless you are willing to put in the effort to learn accounting - how to read and interpret financial statements - you really shouldn't select stocks yourself

Two rules: 1. Preserve the principal 2. When in doubt, see Rule #1.

In a difficult business, no sooner is one problem solved than another surfaces - never is there just one cockroach in the kitchen.

It is not necessary to do extraordinary things to get extraordinary results.