The important thing is to keep playing, to play against weak opponents and to play for big stakes.

If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.

When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

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

I've seen more people fail because of liquor and leverage -- leverage being borrowed money. 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.

Forecasts usually tell us more of the forecaster than of the forecast

It's the deleveraging that's going on right now that has caused the credit crisis.