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.

Confidence is key. You're not going to put your money - you're not going to leave your money with me unless you're confident I'm going to give it back to you.

I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life.

What could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?

A very rich person should leave his kids enough to do anything, but not enough to do nothing.

The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.