Never test the depth of river with both the feet.

Stocks of companies selling commodity-like products should come with a warning label: "Competition may prove hazardous to human wealth".

I have a house that I bought 55 years ago. It's warm in the winter; it's cool in the summer. It has everything I wanted, plus it has all kinds of good memories. Like my kids, I have good thoughts about that. I can't imagine living any better.

Growth and value investing are joined at the hip.

If you buy the things you don't need, you will soon be selling the things that you need.

When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.

It isn't given to man to be able to run a financial institution where different interest-rate scenarios will prevail on all of that so as to produce kind of smooth, regular earnings from a very large base to start with.