I don't want to hold out false hopes that the - by some magic moment, that things will turn around in a couple months because they wouldn't, Charlie. I mean, and it's a big mistake to try and mislead people.

What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.

The true investor welcomes volatility ... a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.

In investing, just as in baseball, to put runs on the scoreboard, one must watch the playing field, not the scoreboard.

We will reject interesting opportunities rather than over-leverage our balance sheet.

If horses had controlled investment decisions, there would have been no auto industry.

You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.