A lot of people think if you just had more process and more compliance -- checks and doublechecks and so forth -- you could create a better result in the world. Well, Berkshire has had practically no process. We had hardly any internal auditing until they forced it on us. We just try to operate in a seamless web of deserved trust and be careful whom we trust.

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

Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.

The game is to keep learning, and I don't think people are going to keep learning who don't like the learning process.

Whenever you think something or some person is ruining your life, it's you. A victimization mentality is so debilitating.

I think that one should recognize reality even when one doesn't like it; indeed, especially when one doesn't like it.

In Gillette's case, they keep surfing along new technology which is fairly simple by the standards of microchips. But it's hard for competitors to do. So they've been able to stay constantly near the edge of improvements in shaving.