It is madness to risk losing what you need in pursuing what you simply desire.

We've actually been pretty good on exports. I mean we are exporting 12% of our GDP now roughly.

Risk comes from not knowing what you're doing.

Charlie [Munger] and I are not big fans of resumes. Instead, we focus on brains, passion and integrity.

You’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You’d resist the temptation to dabble. You’d make more good decisions and you’d make more big decisions.

You get in a lot of trouble when you start putting fictitious numbers.

We always see shifts in employment. If you think about it, if you go back to 1800, it took 80 percent of the labor force to produce enough food for the country. Now it takes less than 3 percent. Well, the truth is that market systems move people around.