The big question about how people behave is whether they've got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.

It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.

Chains of habit are too light to be felt until they are too heavy to be broken.

Only when the tide goes out do you discover who's been swimming naked.

The best thing I did was to choose the right heroes.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.

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

We enjoy the process far more than the proceeds.

I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

If a business does well, the stock eventually follows.

Risk comes from not knowing what you're doing.

Our favorite holding period is forever.

Someone is sitting in the shade today because someone planted a tree a long time ago.

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

Let blockheads read what blockheads wrote.

Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.

There seems to be some perverse human characteristic that likes to make easy things difficult.

You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.

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

I buy expensive suits. They just look cheap on me.

I always knew I was going to be rich. I don't think I ever doubted it for a minute.

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

Why not invest your assets in the companies you really like? As Mae West said, 'Too much of a good thing can be wonderful'.

Value is what you get.

Risk is a part of God's game, alike for men and nations.

Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

When you combine ignorance and leverage, you get some pretty interesting results

You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.

Honesty is a very expensive gift, Don't expect it from cheap people

The only way to get love is to be lovable. It's very irritating if you have a lot of money. You'd like to think you could write a check: 'I'll buy a million dollars' worth of love.' But it doesn't work that way. The more you give love away, the more you get.

Predicting rain doesn't count. Building arks does.

The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.

You know, people talk about this being an uncertain time. You know, all time is uncertain. I mean, it was uncertain back in - in 2007, we just didn't know it was uncertain. It was - uncertain on September 10th, 2001. It was uncertain on October 18th, 1987, you just didn't know it.

We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'

Time is the friend of the wonderful company, the enemy of the mediocre.

Your premium brand had better be delivering something special, or it's not going to get the business.

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.

The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.

I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.

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.

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

Beware of geeks bearing formulas.

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

The investor of today does not profit from yesterday's growth.

The first rule is not to lose. The second rule is not to forget the first rule.

"I just sit in my office and read all day"

"I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.