The stock market is a no-called-strike game

"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 that your fans keep yelling, 'Swing, you bum!'"

[Warren Buffett in Berkshire Hathaway's 1998 Annual Meeting]

We don't get paid for activity

"We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely."

[Warren Buffett in Berkshire Hathaway's 1998 Annual Meeting]

I like to shoot fish in a barrel

"I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out."

[Warren Buffett talking with Wharton MBA students in October 2003]

Stay quietly in one room

"All men's misfortunes spring from the single cause that they are unable to stay quietly in one room."

(Buffett quoting Pascal)