Be Brave When Others Are

When I Take A Look At A Company's Annual Report, If I Don't Understand It, They Don't Want Me To Understand It.

Buy A Cross Section Of American Industry, And If A Cross Section Of American Industry Doesn't Work, Certainly Trying To Pick The Little Beauties Here And There Isn't Going To Work Either.

Diversification Is Protection Against Ignorance. It Makes Little Sense If You Know What You Are Doing.

I Insist On A Lot Of Time Being Spent, Almost Every Day, To Just Sit And Think. That Is Very Uncommon In American Business. I Read And Think. So I Do More Reading And Thinking, And Make Less Impulse Decisions Than Most People In Business. I Do It Because I Like This Kind Of Life.

In Looking For People To Hire, Look For Three Qualities: Integrity, Intelligence And Energy. And If They Don't Have The First, The Other Two Will Kill You.