Our approach is very much profiting from lack of change rather than from change.

Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we're trying to do. It's imperfect, but that's what it's all about.

The purpose of life is to be loved by as many people as possible among those you want to have love you

Focus on return on equity, not earnings per share.

If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.

When we really sit back with a smile on our face is when we run into a situation we can understand, where the facts are ascertainable and clear, and the course of action obvious.

Be fearful when the markets get greedy, be greedy when the markets get fearful.