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.

If people tell you what you really don't want to hear what's unpleasant-there's an almost automatic reaction of antipathy. You have to train yourself out of it.

Clever derivatives broke dozens of companies. It killed them. Bankrupt. We don't need these kinds of innovation in finance. It's OK to be boring in finance. What we want is innovation in widgets.

Berkshireis not as good as it was in terms of percentage compounding [going forward], but it's still a hell of a business.

Great investing requires a lot of delayed gratification.

Mimicking the herd invites regression to the mean.

The interesting thing is the field is so big - it's enormous. One thing a modern civilization needs is energy.