Do not put all your eggs in one basket.

Exercise humility and restraint.

The good thing is, we have household formation in this country.

Take the job you would take if you were independently wealthy. You're going to do well at it.

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.

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

We intend to continue our practice of working only with people whom we like and admire. This policy not only maximizes our chances for good results, it also ensures us an extraordinarily good time.