Investment must be rational; if you can't understand it, don't do it.

The thing to do is to keep your mind when the world around you is losing theirs.

The difference between successful people and really successful people is that really successful people say no to almost everything.

Whatever you like to do, make it a hobby and whatever the world likes to do, make it a business.

Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.

In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.

Well, one time some attractive woman sat next to Charlie and asked him what he owed his success to, and, unfortunately, she insisted on a one word answer. He had a speech prepared that would have gone on for several hours. But when forced to boil it down to one word, he said that was "rational". You know, he comes equipped for rationality, and he applies it in business. He doesn't always apply it elsewhere, but he applies it in business and that has made him a huge business success.