There are always people who will be better at some thing than you are.

To say accounting for derivatives is Americais a sewer is an insult to sewage.

Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.

I remember the $0.05 hamburger and a $0.40-per-hour minimum wage, so I've seen a tremendous amount of inflation in my lifetime. Did it ruin the investment climate? I think not.

It's dangerous to short stocks.

It takes character to sit there with all that cash and do nothing. I didn't get to where I am by going after mediocre opportunities.

Berkshireis in the business of making easy predictions If a deal looks too hard, the partners simply shelve it.