I think there's something to be said for developing the disposition to own stocks without fretting.

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

The definition of hell in the legal system is: endless due process and no justice; (in the corporate world) it would be: endless due diligence and no horse sense.

All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.

This is an amazingly sound place. We are more disaster-resistant than most other places. We haven't pushed it as hard as other people would have pushed it. I don't want to go back to Go. I've been to Go. A lot of our shareholders have a majority of their net worth in Berkshire, and they don't want to go back to Go either.

What matters most: passion or competence that was born in? Berkshireis full of people who have a peculiar passion for their own business. I would argue passion is more important than brain power.

If you don't allow for self-serving bias in the conduct of others, you are, again, a fool.