When you get to my age, you’ll measure your success in life by how many of the people you want to have love you actually do love you. That’s the ultimate test of how you’ve lived your life.

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

We always see shifts in employment. If you think about it, if you go back to 1800, it took 80 percent of the labor force to produce enough food for the country. Now it takes less than 3 percent. Well, the truth is that market systems move people around.

Is management candid with the shareholders?

The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.

An investor should act as though he had a lifetime decision card with just twenty punches on it.

Money to some extent sometimes let you be in more interesting environments. But it can't change how many people love you or how healthy you are.