A Bull Market Is Like Sex. It

Do Not Take Yearly Results Too Seriously. Instead, Focus On Four Or Five-year Averages.

The Single Most Important Decision In Evaluating A Business Is Pricing Power.

I Don't Know That I Could Draw One That's Perfect. But I'd Rather By Approximately Right Than Precisely Wrong, And It Would Be Precisely Wrong To Turn It Down.

The Managers At Fault Periodically Report On The Lesson They Have Learned From The Latest Disappointment. They Then Usually Seek Out Future Lessons.

Do What You Love And Work For Whom You Admire The Most, And You've Given Yourself The Best Chance In Life You Can.