Never get too hung up on mistakes.

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.

Every company that has an economist working for him has one employee too many.

It is impossible to unsign a contract, so do all your thinking before you sign.

You know, with your money and my brains, I mean, there's no telling how far we'd go.

Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers.

Our investments continue to be few in number and simple in concept: The truly big investment idea can usually be explained in a short paragraph. We like a business with enduring competitive advantages that is run by able and owner-oriented people. When these attributes exist, and when we can make purchases at sensible prices, it is hard to go wrong (a challenge we periodically manage to overcome).