I Think What People Understand There Probably

We Make Investment Decisions Based On Our Evaluation Of The Most Profitable Combination Of Probabilities.

After 25 Years Of Buying And Supervising A Great Variety Of Businesses, Charlie [munger] And I Have Not Learned How To Solve Difficult Business Problems. What We Have Learned Is To Avoid Them. To The Extent We Have Been Successful, It Is Because We Have Concentrated On Identifying One-foot Hurdles That We Could Step Over Rather Than Because We Acquired Any Ability To Clear Seven-footers.

If You Don't Feel Comfortable Owning Something For 10 Years, Then Don't Own It For 10 Minutes.

What The Wise Do In The Beginning, Fools Do In The End.

The Fed Is The Greatest Hedge Fund In History.