It's almost impossible to overpay the truly extraordinary CEO... but the species is rare.

Investment must be rational; if you can't understand it, don't do it.

I mean [Franklin Delano] Roosevelt didn't - you know, when he came in, he didn't print any money.

I don't like what's going on with the executive compensation.

I want to be able to explain my mistakes. This means I do only the things I completely understand.

You could be somewhere where the mail was delayed three weeks and do just fine investing.

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.