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.

If a man didn't make mistakes he'd own the world in a month. But if he didn't profit by his mistakes he wouldn't own a blessed thing.

If you're unwilling to try new things and to fail and learn, you don't have a shot

I did very little marketing. The key is to make your clients money. If you have a good track record, people will find you and knock on your door. Just make your clients money.

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.

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