You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. I've never borrowed a significant amount of money in my life. Never. Never will. I've got no interest in it.

The U.S. Treasury has got borrowing costs like nobody else has.

The true investor welcomes volatility ... a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.

I don't want to hold out false hopes that the - by some magic moment, that things will turn around in a couple months because they wouldn't, Charlie. I mean, and it's a big mistake to try and mislead people.

Success in investing doesn’t correlate with I.Q. Once you are above the level of 25; once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.

If you owe money, you can't pay them out. You just pay for everything, you do smart things, you eventually get very rich.

A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.