How you behave in one place, will help in surprising ways later.

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 a rare business that doesn't have a way worse future than it has a past.

Warren spends 70 hours a week thinking about investing .

Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough.

The old culture had come out of poverty, out of English customs.

The game of investing is one of making better predictions about the future than other people. How are you going to do that? One way is to limit your tries to areas of competence. If you try to predict the future of everything, you attempt too much.