Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

That would be nice if [people] stuck [treasury bills] all under a mattress, but they got to buy something with them. Sometimes they buy a treasury note, sometimes they set up sovereign wealth funds. They can do all kinds of things. They can buy our companies here. As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods.

The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

I would push purchasing power - you push out $1,000 of purchasing to those people, it's going to get - it's going to get spent. And it needs to be spent. They need it. And it should come, to some extent, from guys like me.

Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.

Investors should remember that excitement and expenses are their enemies.

We continue to make more money when snoring than when active.