'I call investing the greatest business in the world because you never have to swing. You stand at the plate, the pitcher throws you General Motors at 47! U.S. Steel at 39! and nobody calls a strike on you. There's no penalty except opportunity lost. All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.'

'We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.' - 1998 Berkshire Hathaway Annual Meeting

'The stock market is a no-called-strike game. You don't have to swing at everything--you can wait for your pitch. The problem when you're a money manager is th…

'If you expect to be a net saver during the next 5 years, should you hope for a higher or lower stock market during that period?'Many investors get this one wr…