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

"Be fearful when others are greedy and greedy only when others are fearful."

"Turn market fluctuations into your friend rather than your enemy."

"The best chance to deploy capital is when things are going down."

"I’ve seen more people fail because of liquor and leverage—leverage being borrowed money."

"In a commodity-type business, you’re only as smart as your dumbest competitor."

"The most important quality for an investor is temperament, not intellect."

"If a business does well, the stock eventually follows."

"Cash combined with courage in a time of crisis is priceless."

"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."

"Beware of geeks bearing formulas."

"I always knew I was going to be rich. I don't think I ever doubted it for a minute."

"Time is the friend of the wonderful company, the enemy of the mediocre."

"Why not invest your assets in the companies you really like? As Yogi Berra said, 'A nickel ain't worth a dime anymore."

"Diversification is protection against ignorance. It makes little sense if you know what you are doing."