'I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.'- lecturing to a group of students at Columbia U. He was 21 years old.

'The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable.' - Financial Review, 1985

'We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means w…

'Charlie and I decided long ago that in an investment lifetime it's too hard to make hundreds of smart decisions. That judgement became ever more compelling as…