The Stock Market is designed to transfer money from the Active to the Patient.

The extraordinary business does not require good management.

I think the most important factor in getting out of the recession actually is just the regenerative capacity of - of American capitalism.

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.

Investment ideas, like women are often more exciting than punctual.

Cultivate curiosity and strive to become a little wiser every day.

There are a few investment managers, of course, who are very good - though in the short run, it's difficult to determine whether a great record is due to luck or talent. Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship. Rather than listen to their siren songs, investors - large and small - should instead read Jack Bogle's The Little Book of Common Sense Investing.