In the business world, the rearview mirror is always clearer than the windshield.

In the short term, the market is a popularity contest. In the long term, the market is a weighing machine.

It is not necessary to do extraordinary things to get extraordinary results.

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

Long ago, Ben Graham taught me that 'Price is what you pay; value is what you get.' Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.

Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.

Managers thinking about accounting issues should never forget one of Abraham Lincoln’s favorite riddles: How many legs does a dog have, if you call a tail a leg? The answer: Four, because calling a tail a leg doesn’t make it a leg.

My friends and I have been coddled long enough by a billionaire-friendly Congress.