I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.

I'm happy when I can spend every day doing the things that I like to do. That's my luxury.

If you want to shoot rare, fast-moving elephants, you should always carry a loaded gun.

Our system works. Over time, people will live better and better. We have a system that unleashes human potential, and now China has a system that unleashes human potential. We will have interruptions. We overshoot and undershoot sometimes, but your kids and grandkids will live better than you. Over time, we move ahead at a pretty damn rapid rate.

Risk can be greatly reduced by concentrating on only a few holdings.

The market system rewards me outlandishly for what I do, but that doesn't mean I'm any more deserving of a good life than a teacher or a doctor or someone who fights in Afghanistan.

As of 1992, in fact-though the picture would have improved since then-the money that had been made since the dawn of aviation by all of this country's airline companies was zero. Absolutely zero.