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

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

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

It is more important to say "no" to an opportunity, than to say "yes".

When it's raining gold, reach for a bucket, not a thimble.

The fact that people will be full of greed, fear or folly is predictable.The sequence is not predictable.