Never depend on single income. Make investment to create a second source.

Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.

If you buy things you do not need, soon you will have to sell things you need.

Market price, while used exclusively to value our investments in minority positions, is not a relevant factor when applied to our controlling interests.

I think that they hoped the private sector would come in. And the private sector tried to come in until they saw the size of the problem. I mean, from were people on that weekend that thought they'd had a solution. And then the hole kept getting bigger and bigger. And all of a sudden became apparent that 20 billion wouldn't do it and 30 billion wouldn't do it and 40 billion wouldn't do it. So it got beyond anybody's ability to certainly to do it in a short period of time.

If you can tell me who your heroes are, I can tell you how you're going to turn out in life.

There are three important principles to Graham's approach. [The first is to look at stocks as fractional shares of a business, which] gives you an entirely different view than most people who are in the market. [The second principle is the margin-of-safety concept, which] gives you the competitive advantage. [The third is having a true investor's attitude toward the stock market, which] if you have that attitude, you start out ahead of 99 percent of all the people who are operating in the stock market - it's an enormous advantage.