I think the foundation at Berkshire [Buffett's stake in Berkshirewill pass to the Buffett Foundation upon his death] will be a plus because there will be a continuation of the culture. We'd still take in fine businesses run by people who love them.

Most people early achieve and later intensify a tendency to process new and disconfirming information so that any original conclusion remains intact. They become people of whom Philip Wylie observed: "You couldn't 't squeeze a dime between what they already know and what they will never learn."

It would be nice if this [finding really cheap stocks] happened all the time. Unfortunately, it doesn't.

The world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.

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

The harder you work, the more confidence you get. But you may be working hard on something that is false.

The world is getting very much more competitive.