We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.

It's class warfare, my class is winning, but they shouldn't be.

Do what you would do for free, having passion for what you do is the most important thing.

The smartest side to take in a bidding war is the losing side.

Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.

I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.

We always live in an uncertain world. What is certain is that the United States will go forward over time.