Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.

What we learn from history is that people don't learn from history.

Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.

Risk can be greatly reduced by concentrating on only a few holdings.

The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

I really like my life. I've arranged my life so that I can do what I want.

A very rich person should leave his kids enough to do anything, but not enough to do nothing.

I am a better investor because I am a businessman, and a better businessman because I am no investor.

For some reason people take their cues from price action rather than from values. Price is what you pay. Value is what you get.