| We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. |
| Price is what you pay. Value is what you get. |
| Someone’s sitting in the shade today because someone planted a tree a long time ago. |
| Rule No.1: Never lose money. Rule No.2: Never forget rule No.1. |
| Risk comes from not knowing what you’re doing. |
| It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently. |
| It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price. |
| It’s only when the tide goes out that you discover who’s been swimming naked. |
| Our favorite holding period is forever. |
| Chains of habit are too light to be felt until they are too heavy to be broken. |
