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It's only when the tide goes out that you discover who's been swimming naked.


The only time to buy these is on a day with no 'y' in it.


Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.


I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.


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


I don't look to jump over 7-foot bars; I look around for 1-foot bars that I can step over.


I violated the Noah rule: Predicting rain doesn't count; building arks does.


Price is what you pay. Value is what you get.


If you have a harem of 40 women, you never get to know any of them very well.


The smarter the journalists are, the better off society is. (For) to a degree, people read the press to inform themselves-and the better the teacher, the better the student body.


Our favourite holding period is forever.


Rational people don't risk what they have and need for what they don't have and don't need.


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