For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.

See's candy company was the first high-quality business we ever bought.

You don't have to have perfect wisdom to get very rich - just a bit better than average over a long period of time.

We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan; Wesco] just before a calamity. Both were bought at a discount to liquidation value.

I have a black belt in chutzpah. I was born with it. Some people, like some of the women I know, have a black belt in spending. They were born with that. But what they gave me was a black belt in chutzpah.

Don't confuse correlation and causation. Almost all great records eventually dwindle.

I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up with their age cohorts at Goldman. This can't possibly end well in terms of meeting these expectations.