Risk Comes From Not Knowing What You're

I Knew A Lot About What I Did When I Was 20. I Had Read A Lot, And I Aspired To Learn Everything I Could About The Subject.

Great Investment Opportunities Come Around When Excellent Companies Are Surrounded By Unusual Circumstances That Cause The Stock To Be Misappraised.

The Ideal Business Is One That Earns Very High Returns On Capital And That Keeps Using Lots Of Capital At Those High Returns. That Becomes A Compounding Machine.

It's Going To Be Tough Because The Economy Is Going To Be Getting Worse For A While. And It Might Fall Off A Cliff If This Doesn't Pass. But Nobody Will Ever Know That If It Does.

It's Not Debt Per Say That Overwhelms An Individual Corporation Or Country. Rather It Is A Continuous Increase In Debt In Relation To Income That Causes Trouble.