I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.

I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.

Time is the friend of the wonderful business. It's the enemy of the lousy business. If you're in a lousy business for a long time, you're going to get a lousy result, even if you buy it cheap. If you're in a wonderful business for a long time, even if you pay a little too much going in, you're going to get a wonderful result if you stay in a long time.

The Fed is the greatest hedge fund in history.

Risk can be greatly reduced by concentrating on only a few holdings.

Stocks of companies selling commodity-like products should come with a warning label: "Competition may prove hazardous to human wealth".

In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.