I Like To Buy Things

What You Really Want To Do In Investments Is Figure Out What's Important And Knowable. If It's Unimportant Or Unknowable You Forget About It.

Mr. Market Is Kind Of A Drunken Psycho. Some Days He Gets Very Enthused, Some Days He Gets Very Depressed. And When He Get Really Enthused You Sell To Him, And If He Gets Depressed, You Buy From Him. There's No Moral Taint Attached To That.

We Make Investment Decisions Based On Our Evaluation Of The Most Profitable Combination Of Probabilities.

When They Get Their Ego Involved, People Do Things They Shouldn't Do.

I’ve Worked In An Economy That Rewards Someone Who Saves The Lives Of Others On A Battlefield With A Medal, Rewards A Great Teacher With Thank-you Notes From Parents, But Rewards Those Who Can Detect The Mispricing Of Securities With Sums Reaching Into The Billions.