I think the most important factor in getting out of the recession actually is just the regenerative capacity of - of American capitalism.

If you have more than 120 or 130 I.Q. points, you can afford to give the rest away. You don't need extraordinary intelligence to succeed as an investor.

A lot of great fortunes in the world have been made by owning a single wonderful business. If you understand the business, you don't need to own very many of them.

We enjoy the process far more than the proceeds.

The gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on them. However, the predictability coupled with a short holding period produces quite decent average annual rates of return after allowance for the occasional substantial loss.

In the business world, the rearview mirror is always clearer than the windshield.

We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'