I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.
Our favourite holding period is forever.
The only time to buy these is on a day with no 'y' in it.
It's only when the tide goes out that you learn who's been swimming naked.
When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
In the business world, the rearview mirror is always clearer than the windshield.
Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.
Risk is a part of God's game, alike for men and nations.
Chains of habit are too light to be felt until they are too heavy to be broken.
If past history was all there was to the game, the richest people would be librarians
The smarter the journalists are, the better off society is. [For] to a degree, people read the press to inform themselves-and the better the teacher, the better the student body.
Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
The first rule is not to lose. The second rule is not to forget the first rule.
Value is what you get.
No other management book will ever be needed.
California needs to solve its economic problems, and Arnold Schwarzenegger is the engine that will solve those problems.
I Don’t Work To Collect Money.
Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
Risk comes from not knowing what you're doing.
Wide diversification is only required when investors do not understand what they are doing.
Only when the tide goes out do you discover who's been swimming naked
You only have to do a very few things right in your life so long as you don't do too many things wrong.
If a business does well, the stock eventually follows.
There seems to be some perverse human characteristic that likes to make easy things difficult.