There are far too many ineffective teachers and, in particular, far too many truly terrible teachers who are harming children and poisoning the system.

Nirvana, to a value investor, is paying a cheap price for a company that is growing in value every year at a nice rate - this largely explains why today we own stocks like Berkshire Hathaway, McDonald's, Wal-Mart, Microsoft, Costco and Anheuser-Busch.

My experience is that very few people have what it takes to be a successful investor, as I discussed in The Arrogance of Stock Picking.

Whitney Tilson Quotes