Our favorite holding period is forever.

I sent one e-mail in my life. I sent it to Jeff Raikes at Microsoft, and it ended up in court in Minneapolis, so I am one for one.

I look for businesses in which I think I can predict what they're going to look like in ten to fifteen years time. Take Wrigley's chewing gum. I don't think the internet is going to change how people chew gum.

I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.

We look for things I can understand. A lot of businesses I don't understand.

I knew a lot about what I did when I was 20. I had read a lot, and I aspired to learn everything I could about the subject.

Derivatives are financial weapons of mass destruction.