My job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action.

Do not take yearly results too seriously. Instead, focus on four or five-year averages.

The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.

Be brave when others are afraid, and afraid when others are brave.

What's going to happen - things we're doing are going to have some inflationary consequences.

The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.

I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.