No formula in finance tells you that the moat is 28 feet wide and 16 feet deep. That's what drives the academics crazy. They can compute standard deviations and betas, but they can't understand moats.

I measure success by how many people love me. And the best way to be loved is to be lo veable.

Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.

We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.

I'll bring my tax returns; you bring yours. I'll meet you anytime anywhere.

We will prosper or suffer in controlled investments in relation to the operating performances of our businesses - we will not attempt to profit by playing various games in the securities markets.

Never test the depth of river with both the feet.