Honesty is a very expensive gift, Don't expect it from cheap people.

Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.

In the business world, the rearview mirror is always clearer than the windshield.

I am not in the business of predicting general stock market of business fluctuations. If you think I can do this, or think it is essential to an investment program, you should not be in the partnership.

We all make mistakes. If you can't make mistakes, you can't make decisions. I've made a lot bigger mistakes myself.

When Berkshire Hathaway laid out three billion dollars for GE today, we didn't spend it, we invested it. When the Federal government buys the mortgages, they're not spending it, they're investing it. Now, they're investing it in distress type assets but they're buying them at distress prices if they buy them at market. It's the kind of stuff I love to do. I just don't have 700 million. Maybe we could go in it together.

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