A pack of lemmings looks like a group of rugged individualists compared with Wall Street when it gets a concept in its teeth.

Yeah, we don't consider many stupid things. I mean, we get rid of 'em fast...Just getting rid of the nonsense -- just figuring out that if people call you and say, 'I've got this great, wonderful idea', you don't spend 10 minutes once you know in the first sentence that it isn't a great, wonderful idea...Don't be polite and go through the whole process.

We intend to continue our practice of working only with people whom we like and admire. This policy not only maximizes our chances for good results, it also ensures us an extraordinarily good time.

The secret to happiness is having low expectations.

I want to be able to explain my mistakes. This means I do only the things I completely understand.

I knew a lot about what I did when I was 20. I had read a lot, and I aspired to learn everything I could about the subject.

Buy a business, don't rent stocks.