In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.

The [stock] market,like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.

The stockmarket is a semi-psychotic creature given to extremes of elation and despair.

Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too large to allow us to earn truly outsized returns. If you believe otherwise, you should consider a career in sales but avoid one in mathematics.

An investor needs to do very few things right as long as he or she avoids big mistakes.

You should invest like a Catholic marries: for life.

Possessing a powerful worldwide brand is essential for sustained success.