The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.

We've got all the ingredients for a sensational future.

If book knowledge made great investors, than the librarians would all be rich.

When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. And that same principle works in investing.

As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.

I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.

The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.