I've often felt there might be more to be gained by studying business failures than business successes.

If horses had controlled investment decisions, there would have been no auto industry.

There is no substitute for a local newspaper that is doing its job.

Buy companies with strong histories of profitability and with a dominant business franchise.

It's just that I landed up in a terrific capitalist system. One that pays people who allocate capital extraordinarily well. Intrinsically, I'm not worth as much as somebody who invents something that could improves people's life, or health or whatever.

Too often, a vast collection of possessions ends up possessing its owner.

Traditional wisdom is long on tradition and short on wisdom.