We have three baskets for investing: yes, no, and too tough to un

If you buy a few great companies, you can sit on your ass.

[To Warren Buffett] You’re a fatter version of Mahatma Gandhi.

I think we have one big advantage. A lot of other people are trying to be brilliant, and we’re just trying to stay rational.

[On bankruptcy of Puerto Rico] Who would have guessed a U.S. territory would wind up in bankruptcy? I would, because they behaved like idiots.

There are 2 rules of fishing: Number 1 is to “fish where the fish are” and Number 2 is “Don’t forget about rule Number 1.”

Sometimes when I am especially wistful, I think ‘Oh, to be 90 again.’