Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that is not reportable by us under standard accounting principles than to purchase $1 of earnings that is reportable.

Of our 49 billion, we haven't moved any to Bitcoin

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.

Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom.

If AIG had tried to unwind their derivatives books. I don't know. It would have hit every institution in the world.

I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter.

If you can eliminate the government as a 39.6% partner, then you will be much better off.