Protect the downside. Worry about the margin of safety.

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.

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.

All we try to do is buy a dollar for 40 cents.

Thoughts made our future, Choose your thoughts wisely.

Gratitude is the most fruitful way of deepening your consciousness that you are a divine choice.

You can't repeal human nature by an Act of Congress.

I'm not against Kyoto. I just think it's a fantasy, especially considering China's energy predicament and their coal supplies.

Let a thing here be noted, that the prophet of God sometimes may teach treason against kings, and yet neither he nor such as obey the word, spoken in the Lord's name by him, offend God.

My life style in a sense is kind of private.

In order to grow, you must accept new responsibilities, no matter how uncertain you may feel or how unprepared you are to deal with them.

I got my dog three years ago because I was drunk in a pet store. We had nine cats at the time. The cats started hiding the alcohol after that.

A woman is only a woman, but a good cigar is a smoke.

I think at this point in my life, I'd like to play more good guys than bad guys.