The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.

The dumbest reason in the world to buy a stock is because it's going up.

Investing is laying out money now to get more money back in the future.

I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

The true investor welcomes volatility ... a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.

We will make bold rather than timid investment decisions where we see a sufficient probability of gaining market leadership advantages.