In the search [of a deal], we adopt the same attitude one might find appropriate in looking for a spouse: It pays to be active, interested, and open-minded, but it does not pay to be in a hurry.

Cultivate curiosity and strive to become a little wiser every day.

The ability to say no is a tremendous advantage for an investor.

Never lie under any circumstances.

Life is like a snowball. The important thing is finding wet snow and a really long hill.

Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.

I am not in the business of predicting general stock market of business fluctuations. If you think I can do this, or think it is essential to an investment program, you should not be in the partnership.