Remember, I am neither a bear nor a bull, I am an agnostic opportunist. I want to make money short- and long-term. I want to find good situations and exploit them

I just read and read and read. ... I have always enjoyed reading.

No problem can be solved until it is reduced to some simple form. The changing of a vague difficulty into a specific, concrete form is a very essential element in thinking.

We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.

Where returns are concerned, time is your friend. But where costs are concerned, time is your enemy.

Our investment style has been given a name - focus investing - which implies ten holdings, not one hundred or four hundred. The idea that it is hard to find good investments, so concentrate in a few, seems to me to be an obvious idea. But 98% of the investment world does not think this way. It's been good for us.