Investment students need only two well-taught courses - How to Value a Business and How to Think About Market Prices

The big question about how people behave is whether they've got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.

It’s not that I want money. It’s the fun of making money and watching it grow.

It's much easier to stay out of trouble now than to get out of trouble later.

Never ask a barber if you need a haircut.

The rest of the world really likes our stuff pretty well. It's just we buy so damn much of what they produce.

If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball.