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.

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

When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

Buy stocks like you buy your groceries, not like you buy your perfume.

If you don't make mistakes you can't make decisions.

I view derivatives as time bombs, both for the parties that deal in them and the economic system.

I mean, you may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing.