Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.

If you know how to value businesses, it's crazy to own 50 stocks or 40 stocks or 30 stocks, probably because there aren't that many wonderful businesses understandable to a single human being in all likelihood. To forego buying more of some super-wonderful business and instead put your money into #30 or #35 on your list of attractiveness just strikes Charlie and me as madness.

Mark Zuckerberg will be a hero to many young entrepreneurs 20 years from now. Bill Gates will be a hero to others, and they will look to those [people] like I read books when I was in my teens about Rockefeller or Carnegie.

If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value.

It is madness to risk losing what you need in pursuing what you simply desire.

You shouldn't own common stocks if a 50 per cent decrease in their value in a short period of time would cause you acute distress.

If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.