I can't promise results, but I can promise a common destiny.

It's us fun being a horse when the tractor comes along, or the blacksmith when the car comes along.

Investors should remember that their scorecard is not computed using Olympic-diving methods: Degree-of-difficulty doesn't count. If you are right about a business whose value is largely dependent on a single key factor that is both easy to understand and enduring, the payoff is the same as if you had correctly analyzed an investment alternative characterized by many constantly shifting and complex variables.

Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.

I think the rest of the country should be paying less, the 95 percent that [Barack] Obama talks about or maybe even a little higher than that.

Every company that has an economist working for him has one employee too many.

Buy a cross section of American industry, and if a cross section of American industry doesn't work, certainly trying to pick the little beauties here and there isn't going to work either.