Don't invest in pieces of papers (stocks), invest in great businesses underlying them

Take the job you would take if you were independently wealthy. You're going to do well at it.

I look for businesses in which I think I can predict what they're going to look like in ten to fifteen years time. Take Wrigley's chewing gum. I don't think the internet is going to change how people chew gum.

It's class warfare, my class is winning, but they shouldn't be.

As I have mentioned before, we cannot make the same sort of money out of permanent ownership of controlled businesses that can be made from buying and reselling such businesses, or from skilled investment in marketable securities. Nevertheless, they offer a pleasant long term form of activity (when conducted in conjunction with high grade, able people) at satisfactory rates of return.

Gold has two significant shortcomings, being neither of much use nor procreative.

If you don't know jewelry, know the jeweler.