While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.

The much-maligned idle rich have received a bad rap: They have maintained their wealth while many There is scarcely an instance of a man who has made a fortune by speculation and kept it. Andrew Carnegie of the energetic rich, aggressive real estate operators, corporate acquirers, oil drillers, etc. have their fortunes disappear.

Buy into a company because you want to own it, not because you want the stock to go up.

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

You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.

The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.