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

The smarter the journalists are, the better off society is.

You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.

Sound investing can make you very wealthy if you're not in too big a hurry

You can't buy what is popular and do well.

The fundamental basis of above-average performance in the long run is sustainable competitive advantage.

He must never forget Charlie's plea: Tell me where I'm going to die, so I'll never go there.