Here are a sample of some of his quips that I like and that have been delivered in his speeches and his immensely popular shareholder letters-
- 'In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don't have the first, the other two will kill you. You think about it; it's true. If you hire somebody without the first, you really want them to be dumb and lazy.'
- Energy and drive may be the essential qualities for success in many other walks of life but in the business of investing they are likely to get you into trouble. Lethargy, bordering on sloth, should remain the cornerstone of an investment style.
- What is popular is not necessarily good. Public opinion poll is no substitute for thought.
- When a good manager tries to turn around a fundamentally bad business, quite often it is the reputation of the business that remains intact.
- I like to hold stocks for the long term. My favourite holding period is forever.
- Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.