Outstanding long-term results are produced primarily by avoiding dumb decisions, rather than by making brilliant ones.
Never risk what you have and need for what we don’t have and don’t need.
To win, the first thing you have to do is not lose.
I can’t promise results, but I can promise a common destiny.
If you get to my age in life and nobody thinks well of you, I don’t care how big your bank account is, your life is a disaster.
How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.
I have this complicated procedure I go through every morning, which is to look in the mirror and decide what I’m going to do. And I feel at that point, everybody’s had their say.
The fundamental basis of above-average performance in the long run is sustainable competitive advantage.
I have three boxes on my desk: In, Out, and Too Hard.
A contrarian approach is just as foolish as a follow-the-crowd strategy. What’s required is thinking rather than polling.
Mr. Market is your servant, not your guide.
I’m putting all my money in the Chinese toy market.
I’ve made money over the years by buying into good companies, run by good people, at attractive prices. And I don’t try and make it out of buying into the market at one point and selling at another point.
If knowing history made you rich, librarians would be billionaires.
Asking for financial advice from a financial planner is like asking a barber if you need a hair cut.
Possessing a powerful worldwide brand is essential for sustained success.
When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. And that same principle works in investing.
If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter.
You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map – way off the map.
Investment ideas, like women, are often more exciting than punctual.