I think that actually people in my situation should be paying more tax.

The greater the potential for reward in the value portfolio, the less risk there is.

Anything can happen in stock markets and you ought to conduct your affairs so that if the most extraordinary events happen, that you're still around to play the next day.

Market price, while used exclusively to value our investments in minority positions, is not a relevant factor when applied to our controlling interests.

A lot of great fortunes in the world have been made by owning a single wonderful business. If you understand the business, you don't need to own very many of them.

When investing, pessimism is your friend, euphoria the enemy.

The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.