I don't believe anything unless I understand it inside out. And even if I understand something, it is not uncommon that I disagree with accepted view….

However, if one has been playing the buy-and-hold game with quality securities, one has been exposed to a substantial amount of market risk because t….

My positioning with my investors was always, I need three to five years..

It is ludicrous to believe that asset bubbles can only be recognized in hindsight..

Early on, people invested in me because of my letters and then, somehow, after they invested, they stopped reading them..

I have always believed that a single talented analyst, working very hard, can cover an amazing amount of investment landscape, and this belief remain….

My natural state is an outsider. I've always felt outside the group, and I've always been analyzing the group..

When I stand on my special-issue "Intelligent Investor" ladder and peer out over the frenzied crowd, I see very few others doing the same. Many stock….

Read every line item until you get it..

I just really like to find my own ideas..

If you are going to be a great investor, you have to fit the style to who you are..

Sometimes markets err big time. Markets erred when they gave America Online the currency to buy Time Warner. They erred when they bet against George ….

The borrowers will always be willing to take a great deal for themselves. It’s up to the lenders to show restraint, and when they lose it, watch out..

In essence, the stock market represents three separate categories of business. They are, adjusted for inflation, those with shrinking intrinsic value….

I didn't offer transparency. I provided one quarterly report in letter form. That was all you got. I basically demanded that if you're going to inves….

I hated discussing ideas with investors, because then I become a Defender of the Idea, and that influences your thought process..

I think a lot of funds get their ideas from Wall Street. I just like to find my own ideas. I read a lot. A lot of news. I just follow my nose. A lot ….

Everything I do in investment is just very different..

The late 90s almost forced me to identify myself as a value investor, because I thought what everybody else was doing was insane..