[W]e think the very term 'value investing' is redundant. What is 'investing' if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value -- in the hope that it can soon be sold for a still-higher price -- should be labeled speculation (which is neither illegal, immoral nor -- in our view -- financially fattening).

Investment must be rational; if you can't understand it, don't do it.

This economy doesn't work well without the lubrication of credit and trust.

In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.

If, when making a stock investment, you're not considering holding it at least ten years, don't waste more than ten minutes considering it.

The key to life is to figure out who to be the batboy for.

A very rich person should leave his kids enough to do anything, but not enough to do nothing.