Valuing a business is part art and part science.

It's quite clear that stocks are cheaper than bonds. I can't imagine anybody having bonds in their portfolio when they can own equities, a diversified group of equities. But people do because they, the lack of confidence. But that's what makes for the attractive prices. If they had their confidence back, they wouldn't be selling at these prices. And believe me, it will come back over time.

I look for businesses in which I think I can predict what they're going to look like in ten to fifteen years time. Take Wrigley's chewing gum. I don't think the internet is going to change how people chew gum.

Charlie and I have a number of filters that things have to get through before we'll think about them.

I want to be able to explain my mistakes. This means I do only the things I completely understand.

The best asset is your own self. You can become to an enormous degree the person you want to be

Money will not change how healthy you are or how many people love you.