Move only when you have an advantage. It's very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.

Accounting incomes were reduced by discrepancy [ but] "the net amount paid by lawyers for lawyerly discrepancy is close to zippo. In this case, the goddess of justice was blind.

Choose clients as you would friends.

I'm right, and you're smart, and sooner or later you'll see I'm right.

When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'

Berkshire has the lowest turnover of any major company in the U.S.The Walton family owns more of Wal-Mart than Buffett owns of Berkshire, so it isn't because of large holdings. It's because we have a really unusual shareholder body that thinks of itself as owners and not holders of little pieces of paper.

No wise pilot, no matter how great his talent and experience, fails to use his checklist.