You're neither right nor wrong because other people agree with you. You're right because your facts are right and your reasoning is right - that's the only thing that makes you right. And if your facts and reasoning are right, you don't have to worry about anybody else.

Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.

Do not take yearly results too seriously. Instead, focus on four or five-year averages.

I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.

Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

The idea that you try to time purchases based on what you think business is going to do in the next year or two, I think that's the greatest mistake that investors make because it's always uncertain. People say it's a time of uncertainty. It was uncertain on September 10th, 2001, people just didn't know it. It's uncertain every single day. So take uncertainty as part of being involved in investment at all. But uncertainty can be your friend. I mean, when people are scared, they pay less for things. We try to price. We don't try to time at all.