This is my report on how to live... They say the best way is just to live one day at a time... If you try to live seven days at a time, the week will be over before you know it...
What if everyone in the whole world suddenly decided to run away from his problems?" "Well, at least we'd all be running in the same direction!
Yesterday I was a dog. Today I'm a dog. Tomorrow I'll probably still be a dog. Sigh! There's so little hope for advancement.
You know what I think my best quality is? I think I'm nice to have around. I'd hate it if I weren't around!
You know what Oscar Wilde said, ma'am? He said, "nothing that is worth knowing can be taught". Nothing personal, ma'am... Carry on.
Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.
The best thing that happens to us is when a great company gets into temporary trouble...We want to buy them when they're on the operating table.
The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.
On the margin of safety, which means, don't try and drive a 9,800-pound truck over a bridge that says it's, you know, capacity: 10,000 pounds. But go down the road a little bit and find one that says, capacity: 15,000 pounds.
If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes.
Buy a stock the way you would buy a house. Understand and like it such that you'd be content to own it in the absence of any market.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
It is a terrible mistake for investors with long-term horizons -- among them pension funds, college endowments, and savings-minded individuals -- to measure their investment 'risk' by their portfolio's ratio of bonds to stocks.
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