Buy a cross section of American industry, and if a cross section of American industry doesn't work, certainly trying to pick the little beauties here and there isn't going to work either.

I like to buy things I can understand. I do a lot of research on things.

The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons.

I think that trying to invest through 535 people is a tough job, you know, and so I would give more latitude.

A single year's performance is of minor importance and, good or bad, should never be taken seriously.

I don't want to be on the other side of the table from the customer. I was never selling anything that I didn't believe in myself or use myself.

I’ve never believed in risking what my family and friends have and need in order to pursue what they don’t have and don’t need.