If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball.

Games are won by players who focus on the playing field -- not by those whose eyes are glued to the scoreboard.

The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.

Cultivate curiosity and strive to become a little wiser every day.

My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it. The latter course of action would appear to at least border on a Pyrrhic victory.

If you don't find a way to make money while you sleep, you will work until you die.

Don't invest in pieces of papers (stocks), invest in great businesses underlying them