You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.

Our policy is to concentrate holdings. We try to avoid buying a little of this or that when we are only lukewarm about the business or its price. When we are convinced as to attractiveness, we believe in buying worthwhile amounts.

Trust is like the air we breathe--when it's present, nobody really notices; when it's absent, everybody notices.

Investing is forgoing consumption now in order to have the ability to consume more at a later date.

One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.

There is no perfect mathematical formula for pricing a business.

Most investors, both institutional and individual, will find that the best way to own common stocks (shares') is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after fees and expenses) of the great majority of investment professionals.