An ounce of prevention is worth a pound of cure understated.

The reaction of weak management to weak operations is often weak accounting.

It's a big mistake to try and mislead people. They will turn around.

I was lucky to have the right heroes. Tell me who your heroes are and I'll tell you how you'll turn out to be. The qualities of the one you admire are the traits that you, with a little practice, can make your own, and that, if practiced, will become habit forming.

All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies.

Diversification is protection against ignorance. It makes little sense if you know what you are doing.

We've had public companies in the past in that business and they bleed. We've got a lot more blood than they do.