My favorite time frame for holding a stock is forever.

I certainly have no desire to sell a good controlled business run by people I like and admire, merely to obtain a fancy price. However, specific conditions may cause the sale of one operating unit at some point.

So smile when you read a headline that says "Investors lose as market falls." Edit it in your mind to "Disinvestors lose as market falls-but investors gain." Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: "Every putt makes someone happy.")

The U.S. Treasury has got borrowing costs like nobody else has.

A stock doesn't know that you own it.

Inactivity strikes us as intelligent behavior.

That which is not worth doing at all is not worth doing well.