We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.

A business model that relies on trickery is doomed to fail.

The best thing a human being can do is to help another human being know more.

If it is wisdom you're after, you're going to spend a lot of time on your ass reading.

Economics is in many respects the queen of the soft sciences. It's expected to be better than the rest. It's my view that economics is better at the multi-disciplinary stuff than the rest of the soft science. And it's also my view that it's still lousy.

You're looking for a mispriced gamble. That's what investing is. And you have to know enough to know whether the gamble is mispriced. That's value investing.

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.