Learn how to ignore the examples from others when they are wrong, because few skills are more worth having.

Berkshire was built on the eternal verities: basic mathematics, basic horse sense, basic fear, and basic diagnosis of human nature to make predictions regarding human behavior. We stuck to the basics with a certain amount of discipline and it has worked out quite well.

You've got to have models in your head and you've got to array you experience - both vicarious and direct - onto this latticework of mental models.

You must value the business in order to value the stock.

You're looking for a mispriced gamble. That's what investing is. And you have to know enough to know whether the gamble is mispriced. That's value investing.

It's not supposed to be easy. Anyone who finds it easy is stupid.