The smartest side to take in a bidding war is the losing side.
I get to do what I like to do every single day of the year.
Focus on your customers and lead your people as though their lives depend on your success.
Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.
Failing conventionally is the route to go; as a group, lemmings may have a rotten image, but no individual lemming has ever received bad press.
The most dangerous distractions are the ones you love, but that don’t love you back.
The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.
Benign neglect, bordering on sloth, remains the hallmark of our investment process.
A newspaper that reduces its coverage of the news important to its community is certain to reduce its readership as well.
We enjoy the process far more than the proceeds.
You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.
Your premium brand had better be delivering something special, or it’s not going to get the business.
We always live in an uncertain world. What is certain is that the United States will go forward over time.
Cash combined with courage in a time of crisis is priceless.
Let blockheads read what blockheads wrote.
Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.
It’s never paid to bet against America. We come through things, but it’s not always a smooth ride.
Time is the friend of the wonderful company, the enemy of the mediocre.
He must never forget Charlie’s plea: Tell me where I’m going to die, so I’ll never go there.
The thing to do is to keep your mind when the world around you is losing theirs.