Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.

It's not a competency if you don't know the edge of it.

If you always tell people why, they'll understand it better, they'll consider it more important, and they'll be more likely to comply.

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

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

A few major opportunities, clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind, loving diagnosis involving multiple variables. And then all that is required is a willingness to bet heavily when the odds are extremely favorable, using resources available as a result of prudence and patience in the past.

We're emphasizing the knowable by predicting how certain people and companies will swim against the current. We're not predicting the fluctuation in the current.