Never depend on single income. Make investment to create a second source.

Never invest in a business you can't understand.

We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.

Don't invest in pieces of papers (stocks), invest in great businesses underlying them.

Basically, the single-most important decision in evaluating a business is pricing power.

A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.