Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough.

We don't train executives, we find them. If a mountain stands up like Everest, you don't have to be a genius to figure out that it's a high mountain.

Invert, always invert.

One could imagine a period like Japan13 years ago, however, in which indexing over time wouldn't work.

It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and sometimes they'll pound each other. I know of no way to predict whether they'll compete moderately or to the death. If you could figure it out, you could make a lot of money.

When it gets into these spikes, with shortages and uproar and so forth, people go bananas, but that's capitalism.

This is an amazingly sound place. We are more disaster-resistant than most other places. We haven't pushed it as hard as other people would have pushed it. I don't want to go back to Go. I've been to Go. A lot of our shareholders have a majority of their net worth in Berkshire, and they don't want to go back to Go either.