Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.

Learning how to live is much more important than learning how to make a living.

What the wise do in the beginning, fools do in the end.

I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down.

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

The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.

There are certain things that cannot be adequately explained to a virgin either by words or pictures.