... but the important thing is that when you do find one where you really do know what you are doing, you must buy in quantity.... Charlie and I have made a dozen or so very big decisions relative to net worth, although not as big as they should have been. And in each of those, we've known that we were almost certain to be right going in.
Every human should have the idea of taking care of the environment, of nature, of water. So using too much or wasting water should have some kind of feeling or sense of concern. Some sort of responsibility and with that, a sense of discipline.
An aimless life is always a troubled life. Every individual should have an aim. But do not forget that the quality of your aim will depend the quality of your life. Your aim should be high and wide, generous and disinterested; this will make your life precious to yourself and to others. Whatever your ideal, it cannot be perfectly realized unless you have realized perfection in yourself.
Women should have free access to every field of labor which they care to enter, and when their work is as valuable as that of a man it should be paid as highly.
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.
The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified one wonderful business. With each investment you make, you should have the courage and the conviction to place at least 10% of your net worth in that stock.