Warren Buffett: Buy the dip.

“We trade real estate for technology (which gets cheaper and more capable every year).”

“Why focus on cash flows? Because a share of stock is a share of a company’s future cash flows, and, as a result, cash flows more than any other single variable seem to do the best job of explaining a company’s stock price over the long term.”

—Jeff Bezos

“In the long run managements stressing accounting appearance over economic substance usually achieve little of either.”

—Warren Buffett

“Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.”

—Warren Buffett

“You don’t have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital.”

—Warren Buffett

“At Berkshire, full reporting means giving you the information that we would wish you to give to us if our positions were reversed.”

—Warren Buffett

“Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.”

—Warren Buffett

“Charlie and I would follow a buy-and-hold policy even if we ran a tax-exempt institution.”