I think the worst mistake you can make in stocks is to buy or sell based on current headlines.

We've got more productive capacity now than we ever have.

A prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about the person doing the predicting.

After 25 years of buying and supervising a great variety of businesses, Charlie [Munger] and I have not learned how to solve difficult business problems. What we have learned is to avoid them. To the extent we have been successful, it is because we have concentrated on identifying one-foot hurdles that we could step over rather than because we acquired any ability to clear seven-footers.

Chains of habit are too light to be felt until they are too heavy to be broken.

Writing a check separates a commitment from a conversation.

I think that trying to invest through 535 people is a tough job, you know, and so I would give more latitude.