Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.

Investment ideas, like women are often more exciting than punctual.

Investment students need only two well-taught courses - How to Value a Business and How to Think About Market Prices.

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

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.

As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.