We will only do with your money what we would do with our own.

You know, with your money and my brains, I mean, there's no telling how far we'd go.

A public-opinion poll is no substitute for thought.

Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.

Valuing a business is part art and part science.

If I eat 2,700 calories a day, a quarter of that is Coca-Cola.

In our view, though, investment students need only two well-taught courses-How to Value a Business, and How to Think about Market Prices. Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business who's earnings are virtually certain to be materially higher five, ten and twenty years from now.