How Buffett spends his day

[7/30/05] How does Warren Buffett spend his day? Reading, talking on the phone, and thinking. <!- what do I do? look up these stupid links 8/6/05 -->

"All intelligent investing is value investing - to acquire more than you are paying for. Investing is where you find a few great companies and then sit on your ass.
- Charlie Munger at Berkshire Hathaway's 2000 Shareholder Meeting

[8/31/14 - a slightly different version of the quote:  "If you buy something because it's undervalued, then you have to think about selling it when it approaches your calculation of its intrinsic value. That's hard to do. But if you buy a few great companies, then you can sit on your ass. That's a good thing."]

[8/5/05] Buffett succeeds at nothing (also linked at the temperament entry)

[8/5/05] "Lethargy bordering on sloth remains the cornerstone of our investment style" - Berkshire Hathaway 1990 annual report <!- quoted by Jason Yee in the Janus Worldwide 2005 semiannual report -->

[8/13/05] "You make more money sitting on your ass," Marty Whitman indelicately explained to Jim Grant recently.