We've got a wonderful economic formula in this country.

The gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on them. However, the predictability coupled with a short holding period produces quite decent average annual rates of return after allowance for the occasional substantial loss.

We always live in an uncertain world. What is certain is that the United States will go forward over time.

The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.

When you're associating with the people that you love, doing what you love, it doesn't get any better than that.

I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.

A bull market is like sex. It feels best just before it ends.