Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.

I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.

A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.

The rich invest in time, the poor invest in money.

If you are a professional and have confidence, then I would advocate lots of concentration.

It's very important that the determination of the US Congress to do what is is needed be made evident this week and by the actions of most of the members. I mean, you're not going to get total assent.

I never try to predict the market.