Anyone who believes a growth rate in excess of 15% per annum over the long term is attainable should pursue a career in sales, but avoid one in mathematics.

The value of a business is the cash it's going to produce in the future.

The best way in my view is to just buy a low-cost index fund and keep buying it regularly over time, because you'll be buying into a wonderful industry, which in effect is all of American industry... People ought to sit back and relax and keep accumulating over time.

I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.

In investing, just as in baseball, to put runs on the scoreboard, one must watch the playing field, not the scoreboard.

Nothing sedates rationality like large doses of effortless money.

An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if he owned all of that business.