[On price bubble] The biggest lie on Wall Street is that this time it’s different.
If you buy a few great companies, you can sit on your ass.
We have three baskets for investing: yes, no, and too tough to understand.
When speculation has done its worst, two and two still make four.
I am a better investor because I am a businessman, and a better businessman because I am no investor.
When the dust settles, I think Asia will come out ahead of the U.S.
We still expect huge volatility and more negative surprises. Fasten your seat belt.
We’re just very much a plain-vanilla, long-only investment fund. We like investments where the risk is time, not price.
Seek facts diligently. Advice, never.
Money managers have to account to their shareholders, which means they have an undue fear of underperformance. We invest only our own money. Our investment decisions are driven by optimism, not fear.