Quotes

If a company has a sound balance sheet with minimal long-term debt, good growth prospects and responsible management, then the stock should be interesting.

It makes no sense for individual investors to jump in and out of the market. People who trade in that way rarely die rich, whereas the patient investor often does.

If managers can't think of anything else to do with their money they should pay dividends. If they have good places to invest it, that's much better.

Change creates opportunities to grow, but it also creates opportunities to slip.

I have a very simple strategy. I buy good companies at attractive prices. Then I sit on them.

It's extremely difficult to figure out when to sell anything. So I'd rather have the stock taken away from me in a merger or a buyout. It's much easier.

I've been involved in the market too long to get excited.

It's my job to find unusual companies and then judge whether the price they're selling at is too high.

I had a margin call in 1924, and I swore I never would buy on margin again. That's one of the main reasons I got through the 1930s.

If you are in the right companies, the potential rise can be so enormous that everything else is secondary.

Even a great company can be priced too high if there's a lot of glamour attached to it.

I have stressed management, but even so, I haven't stressed it enough. It is the most important ingredient.