When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.

When people tell me they've learned from experience, I tell them the trick is to learn from other people's experience.

There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do.

Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.

I asked him what he wanted to do for his career, and he replied that he wanted to go into a particular field, but thought he should work for McKinsey for a few years first to add to his resume. To me that's like saving sex for your old age. It makes no sense.

The nature of democracy is such that when there's - there'll be revulsion, obviously, towards - that's never going to happen again.

Money is not everything. Make sure you earn a lot before speaking such nonsense.