Go to bed smarter than when you woke up.

You're not going to get very far in life based on what you already know. You're going to advance in life by what you're going to learn after you leave here.

How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.

The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And most people do not get this straight in their heads. But a fellow like Buffett does. For example, when we were in the textile business, which is a terrible commodity business, we were making low-end textiles-which are a real commodity product. And one day, the people came to Warren and said, "They've invented a new loom that we think will do twice as much work as our old ones."

Intense interest in any subject is indispensable if you're really going to excel in it.

When you borrow a man's car, always return it with a tank of gas.

It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.