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

Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough.

An investment decision in the common stock of a company frequently involves a whole lot of factors interacting ... the one thing that causes the most trouble is when you combine a bunch of these together, you get this lollapalooza effect.

I knew a guy who had $5 million and owned his house free and clear. But he wanted to make a bit more money to support his spending, so at the peak of the internet bubble he was selling puts on internet stocks. He lost all of his money and his house and now works in a restaurant. It's not a smart thing for the country to legalize gambling [in the stock market] and make it very accessible.

At Berkshire Hathaway we do not like to compete against Chinese manufacturers.

The old culture had come out of poverty, out of English customs.

If you want to understand science, you have to understand math. In business, if you're enumerate, you're going to be a klutz. The good thing about business is that you don't have to know any higher math.