"In a world of infinite change, the fundamental principles of value remain the same."

"Life is like a snowball. The important thing is finding wet snow and a really long hill."

"We believe that according the name 'investor' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a romantic."

"Cash is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent."

"Accounting is the language of business."

"If you lose money for the firm, I will be understanding. If you lose a shred of reputation, I will be ruthless."

"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."

"It's better to be approximately right than precisely wrong."

"A very rich person should leave their kids enough to do anything but not enough to do nothing."

"Intensity is the price of excellence."

"Never depend on a single income. Make investments to create a second source."

"What counts for most people in investing is not how much they know, but rather how realistically they define what they don't know."

"The three most important words in investing are margin of safety."

"If you aren't willing to own a stock for 10 years, don't even think about owning it for 10 minutes."

"Never invest in a business you cannot understand."