When we really sit back with a smile on our face is when we run into a situation we can understand, where the facts are ascertainable and clear, and the course of action obvious.

I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.

Good big decisions do not take time at all, if they do you are in trouble.

I think confidence will come back.

Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.

Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.

The fundamental basis of above-average performance in the long run is sustainable competitive advantage.