Intelligent people make decisions based on opportunity costs.
Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough.
How you behave in one place, will help in surprising ways later.
We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.
There's no way that you can live an adequate life without making many mistakes.
We have a passion for keeping things simple.