The much-maligned idle rich have received a bad rap: They have maintained their wealth while many There is scarcely an instance of a man who has made a fortune by speculation and kept it. Andrew Carnegie of the energetic rich, aggressive real estate operators, corporate acquirers, oil drillers, etc. have their fortunes disappear.

Money is not everything. Make sure you earn a lot before speaking such nonsense.

A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.

Never ask a barber if you need a haircut.

Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price.

We will only do with your money what we would do with our own.

Investors have to remember: corporate profits are going up, but stocks are going up faster. How can that continue indefinitely? Investors can only earn what companies themselves can earn; the government or the markets themselves don't kick anything in. How can you get anything more out of a farm than what it grows?