Good profits simply are not inconsistent with good behavior.

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren't, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don't swing for the fences.

My wealth has come from a combination of living in America, some lucky genes, and compound interest.

You get in a lot of trouble when you start putting fictitious numbers.

I mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what Berkshire Hathaway is doing? Why isn't that a better deal for America?

When people talk about cash being king, it's not king if it just sits there and never does anything.