I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood; in fact, if it occurswe will be selling life jackets to the unprepared.

Always associate yourself with people who are better than you.

I've often felt there might be more to be gained by studying business failures than business successes.

In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.

Unless your answers are clearly better, copy the answers of your betters.

A lot of great fortunes in the world have been made by owning a single wonderful business. If you understand the business, you don't need to own very many of them.

Money to some extent sometimes let you be in more interesting environments. But it can't change how many people love you or how healthy you are.