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

I have always cautioned partners that I considered three years a minimum in determining whether we were "performing".

To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline.

The most dangerous distractions are the ones you love, but that don’t love you back.

I mean, they were getting the mortgage of some guy in Omaha, you know, securitized a couple of times. I mean he had all these - they had all these types from Wall Street, you know, and they had advanced degrees, and they look very alert, and they came with these - they came with these things that said gamma and alpha and sigma and all that. And all I can say is beware of geeks, you know, bearing formulas. They've heard that in Europe.

All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.

I really like my life. I've arranged my life so that I can do what I want.