A stock doesn't know that you own it.

You should be unconcerned about short-term price action when you own the securities directly, just as you were unconcerned when you owned them indirectly through BPL. I think about them as businesses, not "stocks", and if the business does all right over the long term, so will the stock.

I make plenty of mistakes and I'll make plenty more mistakes, too. That's part of the game. You've just got to make sure that the right things overcome the wrong ones.

I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.

Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.

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

Tell me your heroes and I'll tell you how your life will end up