The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.

The most important investment you can make is in yourself... nobody can tax it or take it away from you.

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

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.

Never invest in a business you can't understand.

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