What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.

Outstanding long-term results are produced primarily by avoiding dumb decisions, rather than by making brilliant ones.

We have embraced the 21st century by entering such cutting-edge industries as brick, carpet, insulation and paint. Try to control your excitement.

Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.

My job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action.

Be brave when others are afraid, and afraid when others are brave.

I sent one e-mail in my life. I sent it to Jeff Raikes at Microsoft, and it ended up in court in Minneapolis, so I am one for one.