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

Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that's the way we filter out buying opportunities.

We have found in a long life that one competitor is frequently enough to ruin a business.

The game of life is the game of everlasting learning. At least it is if you want to win.

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.

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.

Anyone with an engineering frame of mind will look at [accounting standards] and want to throw up.