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

Without numerical fluency, in the part of life most of us inhibit, you are like a one-legged man in an ass-kicking contest.

You'll better understand the evil when top audit firms started selling fraudulent tax shelters when I tell you that one told me that they're better [than the others] because they only sold [the schemes] to their top-20 clients, so no-one would notice.

I think I've been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I've underestimated it.

When it gets into these spikes, with shortages and uproar and so forth, people go bananas, but that's capitalism.

For many of our shareholders, our stock is all they own, and we're acutely aware of that. Our culture [of conservatism] runs pretty deep.

Great investing requires a lot of delayed gratification.