People calculate too much and think too little.

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

I think the notion...that liquidity is this - of tradable common stock - is a great contributor to capitalism - I think that is mostly twaddle... The liquidity gives us these crazy booms, which have many problems as well as virtues.

Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.

You want to deliver to the world what you would buy if you were on the other end.

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.

It's not supposed to be easy. Anyone who finds it easy is stupid.