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

It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.

If the value of a company doesn’t just scream out at you, it’s too close.

It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.

How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.

We don’t like trading agony for money

This is a good life lesson: getting the right people into your system is the most important thing you can do.

I did not succeed in life by intelligence. I succeeded because I have a long attention span.

If you don’t keep learning, other people will pass you by. Temperament alone won’t do it – you need a lot of curiosity for a long, long time.

Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.

The game of life is the game of everlasting learning. At least it is if you want to win.

I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.

It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.

The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.

Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.

A great business at a fair price is superior to a fair business at a great price.

It’s a good habit to trumpet your failures and be quiet about your successes.