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

Sound investing can make you very wealthy if you're not in too big a hurry.

The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.

All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies.

The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.

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