The Best Business Returns Are Usually Achieved

Market Prices For Stocks Fluctuate At Great Amplitudes Around Intrinsic Value But, Over The Long Term, Intrinsic Value Is Virtually Always Reflected At Some Point In Market Price.

If You Own The Only Newspaper In Town, Up Until The Last Five Years Or So, You Have Pricing Power And You Didn't Have To Go To The Office.

If You're Extremely Rich, And You Have Got Children, My Theory Was, You Give Them Enough So They Can Do Anything, But Not Enough So They Can Do Nothing.

What We Really Want To Do Is Buy Businesses That We Would Be Happy To Own Forever.

Take Wrigley's Chewing Gum. I Don't Think The Internet Is Going To Change How People Chew Gum.