We don't get paid for being busy, we get paid for being right.

What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.

The (stock) market is there only as a reference point to see if anybody is offering to do anything foolish. When we invest in stocks, we invest in businesses.

I would say it's more important who the treasury secretary is than who the vice president is. If you want to have a debate here, I'd like a debate between potential treasury secretaries than the vice presidential debate.

I think confidence will come back.

In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.

Well, it may be all right in practice, but it will never work in theory