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

Buy a business, don't rent stocks.

Never test the depth of river with both the feet.

Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price.

Basically, the single-most important decision in evaluating a business is pricing power.

Never depend on single income. Make investment to create a second source.