I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.

In the insurance business, there is no statute of limitation on stupidity.

The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified one wonderful business. With each investment you make, you should have the courage and the conviction to place at least 10% of your net worth in that stock.

I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age?

Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.

I'm putting all my money in the Chinese toy market.

An IPO is like a negotiated transaction - the seller chooses when to come public - and it's unlikely to be a time that's favourable to you.