I look at everything. That's my job. I really do, every day. I think about everything.

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

The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.

I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.

As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.

The good thing is, we have household formation in this country.

... the best way to own common stocks is through an index fund.