When it's raining gold, reach for a bucket, not a thimble.

Asking for financial advice from a financial planner is like asking a barber if you need a hair cut.

Fund consultants like to require style boxes such as "long-short," "macro," "international equities." At Berkshire our only style box is "smart."

You should invest in a business that even a fool can run, because someday a fool will.

Nothing sedates rationality like large doses of effortless money.

If you understood a business perfectly and the future of the business, you need very little in the way of a margin of safety.

There are three important principles to Graham's approach. [The first is to look at stocks as fractional shares of a business, which] gives you an entirely different view than most people who are in the market. [The second principle is the margin-of-safety concept, which] gives you the competitive advantage. [The third is having a true investor's attitude toward the stock market, which] if you have that attitude, you start out ahead of 99 percent of all the people who are operating in the stock market - it's an enormous advantage.