The more confidence I have in each one of my stock picks, the fewer companies I need to own in my portfolio to feel comfortable.

Choosing individual stocks without any idea of what you're looking for is like running through a dynamite factory with a burning match. You may live, but you're still an idiot.

The secret to investing is to figure out the value of something - and then pay a lot less.

Here is part of the tradeoff with diversification. You must be diversified enough to survive bad times or bad luck so that skill and good process can have the chance to pay off over the long term.

Look down, not up, when making your initial investment decision. If you don’t lose money, most of the remaining alternatives are good ones.

Remember, it’s the quality of your ideas not the quantity that will result in the big money.

If I plug my estimates into the Magic Formula, and it comes out cheap, that's good.

Figure out what something is worth and pay a lot less.

If you spend your energies looking for and analysing situations not closely followed by other informed investors, your chance of finding bargains greatly increases.

I wait until an investment idea is so good, it hits me over the head like an anvil.

I think the exercise of trying to figure out how to simplify concepts has been incredibly helpful to me over the last 13 years of teaching and I hope my students have benefited from it.

War is not the only arena where peace is done to death.

The art of acting is not to act. Once you show them more, what you show them, in fact is bad acting.

A thing of orchestrated hell-a terrible symphony of light and flame.

We're like socks. You can put us through a rough wash once, but you'll never use us again.

When Fortune knocks, open the door,' they say. But why should one make fortune knock, by keeping the door shut?

There is nothing more sad or glorious than generations changing hands.

I know what it’s like to miss someone. To feel like you’re just…wandering around, lost.

Men can't be trusted with pruning shears any more than they can be trusted with the grocery money in a delicatessen . . . They are like boys with new pocket knives who will not stop whittling.

Explanations don't comfort. You won't feel better if you know why. It won't hurt any less.

A spiritual Christian should welcome any burden which the Lord brings his way.