I am not in the business of predicting general stock market of business fluctuations. If you think I can do this, or think it is essential to an investment program, you should not be in the partnership.

Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.

If I got a chance to take one percent of the deal either way, I would make that bet.

The fundamental basis of above-average performance in the long run is sustainable competitive advantage.

People always ask me where they should go to work, and I always tell them to go to work for whom they admire the most.

If knowing history made you rich, librarians would be billionaires.

What's hot today isn't likely to be hot tomorrow. The stock market reverts to fundamental returns over the long run. Don't follow the herd.