There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do.

People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the most important client in the world-themselves.

Problems in a company are like cockroaches in the kitchen. You will never find just one

In economics, you always want to ask 'And then what?'

The extraordinary business does not require good management.

Very successful people say no to almost everything.

Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.