Only when you combine sound intellect with emotional discipline do you get rational behavior.

Stocks are the only thing that people are happy to buy when the price goes up.

If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.

I checked the actuarial tables, and the lowest death rate is among six-year-olds. So I decided to eat like a six-year-old.

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 insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.

Inflation could be a very - is a likely consequence out of what's going on now.