The trick is, when there is nothing to do, do nothing.

The (stock) market is there only as a reference point to see if anybody is offering to do anything foolish. When we invest in stocks, we invest in businesses.

Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.

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.

A bull market is like sex. It feels best just before it ends.

We've got a wonderful economic formula in this country.

Accounting is the language of business.