In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.

The rich invest in time, the poor invest in money.

We would do best in a market where everyone acted foolishly.

At age 19, I read a book [The Intelligent Investor] and what I'm doing today, at age 76, is running things through the same thought process I learned from the book I read at 19.

If you don't know jewelry, know the jeweler.

Does the business have favourable long term prospects?

The extraordinary business does not require good management.