The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It's just that simple.

I don't spend much time regretting the past, once I've taken my lesson from it. I don't dwell on it.

Our biggest mistakes, were things we didn't do, companies we didn't buy.

I think the foundation at Berkshire [Buffett's stake in Berkshirewill pass to the Buffett Foundation upon his death] will be a plus because there will be a continuation of the culture. We'd still take in fine businesses run by people who love them.

You're not going to get very far in life based on what you already know. You're going to advance in life by what you're going to learn after you leave here.

Litigation is notoriously time-consuming, inefficient, costly and unpredictable.

We don't train executives, we find them. If a mountain stands up like Everest, you don't have to be a genius to figure out that it's a high mountain.