Writing checks to the IRS that include strings of zeros does not bother me ... Overall, we feel extraordinarily lucky to have been dealt a hand in life that enables us to write large checks to the government rather than one requiring the government to regularly write checks to us-say, because we are disabled or unemployed.

If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter.

We really can say no in 10 seconds or so to 90%+ of all the things that come along simply because we have these filters.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

At age 19, I read a book [The Intelligent Investor] and what I'm doing today, at age 76, is running things through the same thought process I learned from the book I read at 19.

I was lucky to have the right heroes. Tell me who your heroes are and I'll tell you how you'll turn out to be. The qualities of the one you admire are the traits that you, with a little practice, can make your own, and that, if practiced, will become habit forming.

We're perfectly willing to trade away a big payoff for a certain payoff.