We would do best in a market where everyone acted foolishly.

Good big decisions do not take time at all, if they do you are in trouble.

When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.

It's us fun being a horse when the tractor comes along, or the blacksmith when the car comes along.

Generally speaking, investing in yourself is the best thing you can do. Anything that improves your own talents; nobody can tax it or take it away from you. They can run up huge deficits and the dollar can become worth far less. You can have all kinds of things happen. But if you’ve got talent yourself, and you’ve maximized your talent, you’ve got a tremendous asset that can return ten-fold.

It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in it at a 10% interest rate.

The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.