The Best Investment You Can Make Is

When Asked How He Became So Successful In Investing, Buffett Answered: 'we Read Hundreds And Hundreds Of Annual Reports Every Year.

An Irresistable Footnote: In 1971, Pension Fund Managers Invested A Record 122% Of Net Funds Available In Equities - At Full Prices They Couldn't Buy Enough Of Them. In 1974, After The Bottom Had Fallen Out, They Committed A Then Record Low Of 21% To Stocks.

I'd Rather Have A $10 Million Business Making 15 Per Cent Than A $100 Million Business Making 5 Per Cent.

You Ought To Be Able To Explain Why You’re Taking The Job You’re Taking, Why You’re Making The Investment You’re Making, Or Whatever It May Be. And If It Can’t Stand Applying Pencil To Paper, You’d Better Think It Through Some More. And If You Can’t Write An Intelligent Answer To Those Questions, Don’t Do It.

If We Start Deciding, Based On Guesses Or Emotions, Whether We Will Or Won't Participate In A Business Where We Should Have Some Long Run Edge, We're In Trouble.