Stop trying to predict the direction of the stock market, the economy or elections.

You shouldn't own common stocks if a 50 per cent decrease in their value in a short period of time would cause you acute distress.

The nature of democracy is such that when there's - there'll be revulsion, obviously, towards - that's never going to happen again.

There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do.

I have always cautioned partners that I considered three years a minimum in determining whether we were "performing".

I think the FDIC was one of the great inventions of the American.

We don't get paid for being busy, we get paid for being right.