I've learned mainly by reading myself. So I don't think I have any original ideas. Certainly, I talk about reading Graham. I've read Phil Fisher. So I've gotten a lot of my ideas from reading. You can learn a lot from other people. In fact, I think if you learn basically from other people, you don't have to get too many new ideas on your own. You can just apply the best of what you see.

Earnings can be pliable as putty when a charlatan heads the company reporting them.

Does the business have favourable long term prospects?

If, when making a stock investment, you're not considering holding it at least ten years, don't waste more than ten minutes considering it.

The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified one wonderful business. With each investment you make, you should have the courage and the conviction to place at least 10% of your net worth in that stock.

When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

I've never been very fully employed either but just think of what it's like, you know, to go home with a mortgage payment you know and kids and everything else. My dad had that happen to him in the early '30s.