Charlie and I have a number of filters that things have to get through before we'll think about them.

The greater the potential for reward in the value portfolio, the less risk there is.

I checked the actuarial tables, and the lowest death rate is among six-year-olds. So I decided to eat like a six-year-old.

In a difficult business, no sooner is one problem solved than another surfaces - never is there just one cockroach in the kitchen.

The active investors will have their returns diminished by a far greater percentage than will their inactive brethren. That means that the passive group - the "know-nothings" - must win.

Stocks are the only thing that people are happy to buy when the price goes up.

A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.