Investors have to remember: corporate profits are going up, but stocks are going up faster. How can that continue indefinitely? Investors can only earn what companies themselves can earn; the government or the markets themselves don't kick anything in. How can you get anything more out of a farm than what it grows?

Don't invest in pieces of papers (stocks), invest in great businesses underlying them

It's class warfare, my class is winning, but they shouldn't be.

It's just that I landed up in a terrific capitalist system. One that pays people who allocate capital extraordinarily well. Intrinsically, I'm not worth as much as somebody who invents something that could improves people's life, or health or whatever.

Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.

The reaction of weak management to weak operations is often weak accounting.

Asset values and earning power are the dominant factors affecting the valuation of a controlling interest in a business. Market price, which governs valuation of minority interest positions, is of little or no importance in valuing a controlling interest.