Forecasts usually tell us more of the forecaster than of the forecast

You need a lot of curiosity for a long, long time.

If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference.

In economics, you always want to ask 'And then what?'

Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.

I think that both parties should declare the debt limit as a political weapon of mass destruction which can't be used. I mean, it is silly to have a country that has 237 years building up its reputation and then have people threaten to tear it down because they're not getting some other matter.

When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.