When bills come due, only cash is legal tender. Don't leave home without it.

There is no perfect mathematical formula for pricing a business.

They [Goverment] take from the woman who comes in and takes the wastebaskets out.

If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter.

The plan itself is opportunism. There is no plan before that.

To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline.

Generally speaking, investing in yourself is the best thing you can do. Anything that improves your own talents; nobody can tax it or take it away from you. They can run up huge deficits and the dollar can become worth far less. You can have all kinds of things happen. But if you’ve got talent yourself, and you’ve maximized your talent, you’ve got a tremendous asset that can return ten-fold.