I won’t bet $100 against house odds between now and the grave.

I do not think you can trust bankers to control themselves. They are like heroin addicts.

If you don't keep learning, other people will pass you by. Temperament alone won't do it - you need a lot of curiosity for a long, long time.

The reason we avoid the word 'synergy' is because people generally claim more synergistic benefits than will come. Yes, it exists, but there are so many false promises.Berkshire is full of synergies - we don't avoid synergies, just claims of synergies.

Is there such thing as a cheerful pessimist? That's what I am.

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.

Beta and modern portfolio theory and the like - none of it makes any sense to me.