The more hard lessons you can learn vicariously rather than through your own hard experience, the better.

You don't have to have perfect wisdom to get very rich - just a bit better than average over a long period of time.

If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet.

All sensible investing is value investing

How could economics not be behavioral? If it isn't behavioral, what the hell is it?

The reason we avoid the word 'synergy' is because people generally claim more synergistic benefits than will come. Yes, it exists, but there are so many false promises.Berkshire is full of synergies - we don't avoid synergies, just claims of synergies.

We try more to profit from always remembering the obvious than from grasping the esoteric.