Valuing a business is part art and part science.

With each investment you make, you should have the courage and the conviction to place at least ten per cent of your net worth in that stock

I don't need 15 houses. Owning real estate doesn't mean much to me. I don't like to think about things like that. I don't need 12 boats, or even the world's largest boat with a crew of 80. I'd have to take care of them, to worry about them. I get a lot more fun out of life without all the bells and whistles.

I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.

I'm always interested in understanding the math of things and understanding as much as I can about all aspects of business. And what I learn today may be useful to me two years from now. That's really the wonderful thing about investments is your knowledge is cumulative.

The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.

It's going to be tough because the economy is going to be getting worse for a while. And it might fall off a cliff if this doesn't pass. But nobody will ever know that if it does.