Never invest in a business you can't understand.

Risk comes from not knowing what you're doing.

Diversification may preserve wealth, but concentration builds wealth.

At age 19, I read a book [The Intelligent Investor] and what I'm doing today, at age 76, is running things through the same thought process I learned from the book I read at 19.

The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.

Don't pass up something that's attractive today because you think you will find something way more attractive tomorrow.