Investing is forgoing consumption now in order to have the ability to consume more at a later date.

When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.

Success in investing doesn’t correlate with I.Q. Once you are above the level of 25; once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.

Investing is simple, but not easy.

Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.

If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.

In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.