There is seldom just one cockroach in the kitchen. You know, you turn on the light and, all of sudden, they all start scurrying around.

You should look at stocks as small pieces of business.

You can't produce a baby in one month by getting nine women pregnant.

There is no staff. I make all the investment decisions and I do all my own analysis.

Only when the tide goes out do you discover who's been swimming naked.

Things you like to do should be a hobby of yours, but things the world does should be a business of yours.

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.