... the best way to own common stocks is through an index fund.

Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble.

Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.

We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.

Focus alone is not enough; putting in the time to commit is also crucial to achieve success.

Calculate "owner earnings" to get a true reflection of value.

Always invest for the long term.