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

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

The investor of today does not profit from yesterday's growth.

Don't join the book burners. Don't think you are going to conceal faults by concealing evidence that they ever existed.

A book is made better by good readers and clearer by good opponents.

The so-called paradoxes of an author, to which a reader takes exception, often exist not in the author's book at all, but rather in the reader's head.