Choose clients as you would friends.

Is anyone really surprised that Warren, who is the ultimate embodiment of concentrated decision-making power, picked somebody [Bill and Melinda Gates] who he thinks is like him in many important ways? It was a noble and sensible decision.

It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.

We both (Charlie Munger and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.

It would be nice if this [finding really cheap stocks] happened all the time. Unfortunately, it doesn't.

Someone will always be getting richer faster than you. This is not a tragedy.

If people tell you what you really don't want to hear what's unpleasant-there's an almost automatic reaction of antipathy. You have to train yourself out of it.