It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

I buy expensive suits - they just look cheap on me.

The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.

I would push purchasing power - you push out $1,000 of purchasing to those people, it's going to get - it's going to get spent. And it needs to be spent. They need it. And it should come, to some extent, from guys like me.

When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.

The first rule is not to lose. The second rule is not to forget the first rule.

The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you....it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.