The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.

Ignore the stock market, ignore the economy, and buy a business you understand.

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

If you're extremely rich, and you have got children, my theory was, you give them enough so they can do anything, but not enough so they can do nothing.

You pay a very high price in the stock market for a cheery consensus.

Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.

The nature of democracy is such that when there's - there'll be revulsion, obviously, towards - that's never going to happen again.