Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.

I think there's something to be said for developing the disposition to own stocks without fretting.

A lot of our respected financial institutions are just casinos in drag.

Our success has come from the lack of oversight we've provided, and our success will continue to be from a lack of oversight. But if you're going to provide minimal oversight, you have to buy carefully. It's a different model from GE's. GE's works - it's just very different from ours.

I think corporate managers should learn to be better investors because it would make them better managers.

After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are apparently slow learners. These opportunity costs don't show up on financial statements, but have cost us many billions.

If you don't allow for self-serving bias in the conduct of others, you are, again, a fool.