The extraordinary business does not require good management.

We don't have to be smarter than the rest. We have to be more disciplined than the rest.

When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.

When you listen to tax-cut rhetoric, remember that giving one class of taxpayer a break requires - now or down the line - that an equivalent burden be imposed on other parties. In other words, if I get a break, someone else pays. Government can't deliver a free lunch to the country as a whole. It can however, determine who pays for lunch.

We still find very few [stocks] that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge.

The 19th century belonged to England, the 20th century belonged to the U.S., and the 21st century belongs to China. Invest accordingly.

It's never paid to bet against America. We come through things, but its not always a smooth ride.