Our marketable equities tell us by their operating results - not by their daily, or even yearly, price quotations - whether our investments are successful. The market may ignore business success for a while, but eventually will confirm it.

I mean, Hank Paulson is in there [ Treasury] at the wrong time, probably shouldn't have taken the job. He's a friend of mine. But he knows markets, he knows corporations' work, he knows money, and he's got the interests of the country at heart.

I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.

If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.

The [stock] market,like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.

Buy a cross section of American industry, and if a cross section of American industry doesn't work, certainly trying to pick the little beauties here and there isn't going to work either.

Just look at that Forbes 400. Takes a billion three to get on the Forbes 400 this year. And the aggregate wealth is just staggering. And those people are paying less percentage of their total income to the federal government than their receptionists are. [...] I'll bet a million dollars against any member of the Forbes 400 who challenges - me that the average for the Forbes 400 will be less than the average of their receptionists.