Our policy is to concentrate holdings. We try to avoid buying a little of this or that when we are only lukewarm about the business or its price. When we are convinced as to attractiveness, we believe in buying worthwhile amounts.

It's nice to have a lot of money, but you know, you don't want to keep it around forever. I prefer buying things. Otherwise, it's a little like saving sex for your old age.

Learning how to live is much more important than learning how to make a living.

If I knew where I was going to want to live the next five or 10 years I would buy a home and I'd finance it with a 30-year mortgage... It's a terrific deal.

I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.

Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.

Never lie under any circumstances.