Investing Is Not As Tough

The Three Most Important Words In Investing...margin Of Safety.

What We Really Want To Do Is Buy Businesses That We Would Be Happy To Own Forever.

It's Far Better To Buy A Wonderful Company At A Fair Price Than A Fair Company At A Wonderful Price.

I Have Always Cautioned Partners That I Considered Three Years A Minimum In Determining Whether We Were "performing".

In The Great Majority Of Cases We Simply Do Not Know Enough About The Industry Or Company To Come To Sensible Judgments-in That Situation We Pass.