Every moment in business happens only once. The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won't make a search engine.

What important truth do very few people agree with you on?

A startup messed up at its foundation cannot be fixed.

Competition is a sin.

-- John D. Rockefeller

You have to understand the business before you understand the stock.

-- Mario Gabelli

Concentration is the key. If you believe in something, you should bet big on it.

-- Bruce Berkowitz

The bulls might be right that the company's accounting is fine, but they're asking us to take it on faith. We prefer to verify.

-- David Einhorn

To buy when others are despondently selling and to sell when others are avidly buying requires the greatest fortitude and pays the greatest ultimate rewards.

-- John Templeton

The single greatest edge an investor can have is a long-term orientation.

-- Seth Klarman