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

Darwin paid particular attention to disconfirming evidence. Objectivity maintenance routines are totally required in life if you're going to be a great thinker.

If you have competence, you know the edge. It wouldnt be a competence if you didnt know where the boundaries lie. Asking whether youve passed the boundary is a question that almost answers itself.

I'm a bull on Berkshire Hathaway. There may be some considerable waiting, but I think there are some good days ahead.

Accounting is a big subject and there are huge forces in play. The entire momentum of existing thinking and existing custom is in a direction that allows terrible follies to happen, and the terrible follies have terrible consequences.

Cicero's words also increased my personal satisfaction by supporting my long-standing rejection of a conventional point of view.

I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.