I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to develop that talent, and set up the laws and the finanical system to let me do what I love doing-and make a lot of money doing it. The least I can do is help pay for all that.

Charlie [Munger] and I are not big fans of resumes. Instead, we focus on brains, passion and integrity.

I don't think you can have a better secretary of the Treasury than Hank Paulson.

Over the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero.

Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we're trying to do. It's imperfect, but that's what it's all about.

To be successful, you should concentrate on the world of companies, not arcane accounting mathematics.

The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.