We do liquidation analysis and liquidation analysis only.

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.

That's what death is, Danny thought: wanting to talk to someone and not being able to.

The American economy has been built and sustained by risk-taking entrepreneurs whose pioneering ideas and hard work gave birth to flourishing businesses.

Holiness of heart and life. This is not the perfection of the human nature, but the holiness of the divine nature dwelling within.

I can't bear to be around people who are bland or bored or uninterested (or to employ them).

For me as a solo artist, I never want to be a nostalgia act.

We're, ah, taking a break to evaluate things, and, um, reexamine our relationship, so I stuffed him in a closet!" I burst out in shame. Timmie's eyes goggled. Is he still there?

I kind of just roll up on stage. I realize that as soon as I find myself wearing something that I haven't worn ten times in the past, I'm like, "Who am I right now? I don't recognize myself!"

What's left is palimpsest—one memory bleeding into another, overwriting it.

So, you're worried that a pink dragon will fly over the concent and fart nerve gas on us?

If I knew where creativity came from, I'd probably be a lot less stressed about coming up with new stories.