So some guy may know how to make money in cocoa beans, but I don't so I just let him have that. But it's got to be something I understand. It's got to be a business with fundamentally good economics. It's got to be a management that I like and trust and admire. And it's got to be a price that makes sense.

Accounting is the language of business.

If you hit a hole in one every hole, you wouldn’t play golf for very long.

Life is like a snowball. The important thing is finding wet snow and a really long hill.

A newspaper that reduces its coverage of the news important to its community is certain to reduce its readership as well

Risk can be greatly reduced by concentrating on only a few holdings.

A public-opinion poll is no substitute for thought.