Accounting incomes were reduced by discrepancy [ but] "the net amount paid by lawyers for lawyerly discrepancy is close to zippo. In this case, the goddess of justice was blind.

The first chance you have to avoid a loss from a foolish loan is by refusing to make it; there is no second chance.

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

Trying to prioritize among things we're unlikely to do is pretty fruitless.

Understanding how to be a good investor makes you a better business manager and vice versa.

In my whole life, I have known no wise people (over a broad subject matter area) who didn't read all the time - none, zero. You'd be amazed at how much Warren reads - at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out.

The whole concept of dividing it up into 'value' and 'growth' strikes me as twaddle. It's convenient for a bunch of pension fund consultants to get fees prattling about and a way for one advisor to distinguish himself from another. But, to me, all intelligent investing is value investing.