We have never had the will to enforce the immigration laws. What you see is what you'll continue to get.

Wesco had a market capitalization of $40 million when we bought it [in the early 1970s]. It's $2 billion now. It's been a long slog to a perfectly respectable outcome - not as good as Berkshire Hathaway or Microsoft, but there's always someone in life who's done better.

[GEICO] got to thinking that, because they were making a lot of money, they knew everything. And they suffered huge losses. All they had to do was to cut out all the folly and go back to the perfectly wonderful business that was lying there.

In my life there are not that many questions I can't properly deal with using my $40 adding machine and dog-eared compound interest table.

Avoid working directly under somebody you don't admire and don't want to be like.

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

The SEC does way more good than harm - the last thing I would do is get rid of the SEC...if accounting were thoroughly fixed, a lot of other sins would go away. We're paying a huge price for deterioration of accounting.