What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.

Shares are not mere pieces of paper. They represent part ownership of a business. So, when contemplating an investment, think like a prospective owner.

I'm sitting with six and a half billion dollars we're going to use to close the Mars-Wrigley deal on October 6. I've got to hand over that six and a half billion on October 6. Now, I have to be very careful about who I leave it in between now and then, because they're expecting that he show up.

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.

Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

I would rather sustain the penalties resulting from over-conservatism than face the consequences of error, perhaps with permanent capital loss, resulting from the adoption of "New Era" philosophy where trees really do grow to the sky.

A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.