A lot of great fortunes in the world have been made by owning a single wonderful business. If you understand the business, you don't need to own very many of them.

The secret to happiness is having low expectations.

I tell college students, when you get to be my age you will be successful if the people who you hope to have love you, do love you.

Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.

I think it's been, you know, kind of like a tragic play to this point. But at this point, I think it's clear, and will be clear to the majority of the Congress. I think it's clear to the American people that there is only one countervailing force to a world where financial institutions are trying to sell instruments every day and where credit has dried up, and that's the United States Treasury.

If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.

Buy a business, don't rent stocks.