Truly conservative actions arise from intelligent hypotheses, correct facts and sound reasoning.

We only want to link up with people whom we like, admire, and trust. ... We do not wish to join with managers who lack admirable qualities, no matter how attractive the prospects of their business. We've never succeeded in making a good deal with a bad person.

Failing conventionally is the route to go; as a group, lemmings may have a rotten image, but no individual lemming has ever received bad press

Money will always flow toward opportunity, and there is an abundance of that in America.

Our marketable equities tell us by their operating results - not by their daily, or even yearly, price quotations - whether our investments are successful. The market may ignore business success for a while, but eventually will confirm it.

You get in a lot of trouble when you start putting fictitious numbers.

If at first you do succeed, quit trying on investing.