The company must be profitable. Preferably it will have increased its earnings for the past five years and there will have been no deficits over that period.

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.

You deal with mythological stuff for a few years, you learn that paradises are usually places where you get killed.

We are animals and as animals we kill to survive. Unfortunately some of us are monsters and kill just because they can.

It hurts to see your loved one in pain, but it hurts more to see you cannot do anything about this pain.

You're gonna laugh when I tell you this, man, but I'm starting to enjoy Eminem.

Truth is not a virtue, but a passion. It is never charitable.

I make clothes, women make fashion.

One thing I always loved about hip-hop music was the raw, boom-bap element - it felt powerful and manly.

I'm just waiting to be 85 and be in a pajama community. Everyone's welcome to join me.

The fans of 'The Hunger Games,' of the book, are very passionate. It's funny: Even at my concerts there are people holding up 'Cinna' signs.

“No thought lives in your head rent-free.” Each thought you have will either be an investment or a cost.