I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.

Calculate "owner earnings" to get a true reflection of value.

Most business mistakes are irreversible setbacks, but you get another chance. There are two things in life that you don't get another chance at - marrying the wrong person and what you do with your children.

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.

We don't read other people's opinions. We want to get the facts, and then think.

You pay a very high price in the stock market for a cheery consensus.

Never risk what you have and need for what we don't have and don't need.