Failing conventionally is the route to go; as a group, lemmings may have a rotten image, but no individual lemming has ever received bad press

You've got the right - you've got a wonderful person with Sheila Bair, most of the viewers have never heard of Sheila Bair. [She] has taken eight percent of the deposits in the United States and seamlessly moved those over to sound institutions which in turn have gotten more capital, ended up, it's been a magnificent job.She'll never get a golden parachute or any severance pay or anything. She's done a great job. We've got some great public servants. We have I think the right people in there to get the job done, and then they need more tools.

I have a wonderful family. I have a job that I love and wonderful people who help me with it. It can't get any better than that.

You should be unconcerned about short-term price action when you own the securities directly, just as you were unconcerned when you owned them indirectly through BPL. I think about them as businesses, not "stocks", and if the business does all right over the long term, so will the stock.

It's never paid to bet against America. We come through things, but its not always a smooth ride.

Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.

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