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.

The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry - mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks.

By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.

Ignore the stock market, ignore the economy, and buy a business you understand.

Equities will do well over time - you just have to avoid getting excited when other people are getting excited.

I like to buy things I can understand. I do a lot of research on things.

Truly conservative actions arise from intelligent hypotheses, correct facts and sound reasoning.