Berkshire's past record has been almost ridiculous. If Berkshirehad used even half the leverage of, say, Rupert Murdoch, it would be five times its current size.

Wells Fargo behaves better than the average big bank. But nobody's perfect.

I think that one should recognize reality even when one doesn't like it; indeed, especially when one doesn't like it.

If only I had the influence with my wife and children that I have in some other quarters!

Economics is in many respects the queen of the soft sciences. It's expected to be better than the rest. It's my view that economics is better at the multi-disciplinary stuff than the rest of the soft science. And it's also my view that it's still lousy.

We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.

We've had the most massive creation of wealth for people a lot younger than those who formerly got wealth in the history of the world. The world is full of young people who really want to get rich, and when I left school nobody thought it was a reasonable possibility.