I don't need 15 houses. Owning real estate doesn't mean much to me. I don't like to think about things like that. I don't need 12 boats, or even the world's largest boat with a crew of 80. I'd have to take care of them, to worry about them. I get a lot more fun out of life without all the bells and whistles.

Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.

Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.

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

I don't want to hold out false hopes that the - by some magic moment, that things will turn around in a couple months because they wouldn't, Charlie. I mean, and it's a big mistake to try and mislead people.

It's easier to create money than to spend it.

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.