“Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic.”

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.

I try to invest in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.

We don’t have to be smarter than the rest. We have to be more disciplined than the rest.

You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.

Whatever you like to do, make it a hobby and whatever the world likes to do, make it a business.

Risk comes from not knowing what you’re doing.

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

Read 500 pages every day. That’s how knowledge works. It builds up like compound interest.

Our favorite holding period is forever.

Games are won by players who focus on the playing field, not by those whose eyes are glued to the scoreboard.

Never ask a barber if you need a haircut.

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.

Learning how to live is much more important than learning how to make a living.

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

An investor should act as though he had a lifetime decision card with just twenty punches on it.

If you don’t find a way to make money while you sleep, you will work until you die.

We really care about our brand. We really want it to stand for high quality. We want people to be excited about it, for it to be fun.

To be understanding is more important than to be right.

Work harder on yourself than you do on your job.

You have to think outside the box.

I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.

Purpose is the thread that connects the dots to everything you do that leads you to an extraordinary life.

Look for opportunities to do good.

A leader should never compare his technical skills with his employee’s.