Long term debt and bank debt (including off-balance sheet financing must be judiciously employed. There must be room to expand the debt position if required.

You find bargains among the unpopular things, the things that everybody hates. The key is that you must have patience.

Why will someone sell you a dollar for 50 cents? Because in the short run, people are irrational on both the optimistic and pessimistic side.

When a stock doubles, sell half - then what you have is a free position. Then it becomes more of an art form. When you sell depends on individual circumstances.

There is almost always a major blip for whatever reason and we have learnt to expect it and not to panic.

The most important attribute for success in value investing is patience, patience, and more patience. The majority of investors do not possess this characteristic.

The company must be paying dividends. Preferably the dividend will have been increasing and have been paid for some time.

The share price must be less than book value. Preferably it will be less than net working capital less long term debt.

Protect the downside. Worry about the margin of safety.

Sooner or later, the market will do what it has to do to prove the majority wrong.

If it is cheap enough, we don't care what it is.

Sports just happen to be excellent for avoiding foreign-language stage fright and developing lasting friendships while still sounding like Tarzan.

Be happy with your soul mate.

I believe that the Jewish state will exist forever.

This is our world, and we must make the best of it.

Fear, in evolution, has a special prominence: perhaps more than any other emotion it is crucial for survival.

The relaxation response is a physical state of deep rest that changes the physical and emotional responses to stress... and the opposite of the fight or flight response.

Let people do what they need to do to make them happy. Mind your own business, and do what you need to do to make you happy.

America is still the land of opportunity for most, but it is not a land of opportunity for all. If we are to remain an exceptional nation, we must close this gap in opportunity.

The Masonic aspect of Hollywood is so bizarre.

I wanted to go to regular high school- it looked like a lot of fun.