If you don’t find a way to make money while you sleep, you will work until you die.
We don’t have to be smarter than the rest. We have to be more disciplined than the rest.
Read 500 pages every day. That’s how knowledge works. It builds up like compound interest.
Investing requires qualities of temperament way more than it requires qualities of intellect.
It is more important to say “no” to an opportunity, than to say “yes”.
It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can’t produce a baby in one month by getting nine women pregnant.
I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
Never invest in a business you can’t understand.
You can’t make a good deal with a bad person.
My favorite holding period is forever.
When investing, pessimism is your friend, euphoria the enemy.
It is not necessary to do extraordinary things to get extraordinary results.
By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.
Only when the tide goes out do you discover who’s been swimming naked.
With a wonderful business, you can figure out what will happen; you can’t figure out when it will happen. You don’t want to focus on when, you want to focus on what. If you’re right about what, you don’t have to worry about when.
The first rule is not to lose. The second rule is not to forget the first rule.
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.
Cash combined with courage in a time of crisis is priceless.
Energy deregulation will be the largest transfer of wealth in history.