Value investing is at its core the marriage of a contrarian streak and a calculator.

The single greatest edge an investor can have is a long-term orientation.

Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.

In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a speculative undertaking.

Investment success cannot be captured in a mathematical equation or a computer program.

Patience and discipline can make you look foolishly out of touch until they make you look prudent and even prescient

The near absence of bargains works as a reverse indicator for us. When we find there is little worth buying, there is probably much worth selling.

As Buffett has often observed, value investing is not a concept that can be learned and gradually applied over time. It is either absorbed and adopted at once, or it is never truly learned.

The overwhelming majority of people are comfortable with consensus, but successful investors tend to have a contrarian bent.

There's no such thing as a value company. Price is all that matters. At some price, an asset is a buy, at another it's a hold, and at another it's a sell.

You wish for what's called wooing. This customary game, where the man shows the woman that resistance is impractical, strikes me as quite pointless.

All great truths begin as blasphemies.

O Athenians, what toil do I undergo to please you!

One of the most distinctive evolutionary features of human beings is our unusually long, protected childhood.

Never write when you can talk. Never talk when you can nod. And never put anything in an e-mail.

I've always been in bands writing songs with friends in order to play shows or record a future record.

A popular disturbance never remains long in the full control of those who start it.

See to it that you temper yourself with one thousand days of practice, and refine yourself with ten thousand days of training.

Greatness, thou gaudy torment of out souls, The wise man's fetter, and the rage of fools.

The U.S. and Iraq will work together next year to shift Iraqi resources from unproductive subsidies to productive uses that enable Iraqis to earn livelihoods.