What we really want to do is buy businesses that we would be happy to own forever.

I want to be able to explain my mistakes. This means I do only the things I completely understand.

Knowing what to leave out is just as important as knowing what to focus on.

We still find very few [stocks] that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge.

I find that the standard of living does not go up in proportion with the cost of living. The trick in life is to do things that are fun all the time.

We have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.

It's better to build than to buy if you can find the right people.