The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.

I put heavy weight on certainty. It's not risky to buy securities at a fraction of what they're worth.

Investment must be rational; if you can't understand it, don't do it.

The difference between successful people and really successful people is that really successful people say no to almost everything.

I understand Goldman Sachs businesses. We do lot of business with him, and GE has been - I think it's the longest running stock in the Dow Jones industrial average. It will be 100 years now it will be around. I hope I'm around then, too. And it was an attractive investment. And we have had a lot of money around, over the last two years, and we're seeing things that are attractive now.

The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

We will prosper or suffer in controlled investments in relation to the operating performances of our businesses - we will not attempt to profit by playing various games in the securities markets.