“Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.”

To the man with only a hammer, every problem looks like a nail.

There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.

Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?

The best thing a human being can do is to help another human being know more.

The more hard lessons you can learn vicariously rather than through your own hard experience, the better.

I’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I’ve reached that state.

Acknowledging what you don’t know is the dawning of wisdom.

A foreign correspondent, after talking to me for a while, once said: “You don’t seem smart enough to be so good at what you’re doing. Do you have an explanation?”

There is bound to be a regression toward the mean.

You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.

I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.

If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.

If you can buy the best companies, over time the pricing takes care of itself.

Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.

A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.

There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn’t cover new reality. We want people taking into account new information.

Live the life you’ve imagined. As you simplify your life, the laws of the universe will be simpler.

I have been in relatively high-risk businesses all of my adult life.

Deep down we all have a sense of our own inadequacy about coping with life.

If you can dream it, you can do it.

The way of life can be free and beautiful. But we have lost the way.

Things in life will not always run smoothly. Sometimes we will be rising toward the heights—then all will seem to reverse itself and start downward.

I remember my mother’s prayers and they have always followed me. They have clung to me all my life.

You can not live at all if you do not learn to adapt yourself to your life as it happens to be.