I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years.

Cultivate curiosity and strive to become a little wiser every day.

Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.

We've got more productive capacity now than we ever have.

I mean [Franklin Delano] Roosevelt didn't - you know, when he came in, he didn't print any money.

I mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what Berkshire Hathaway is doing? Why isn't that a better deal for America?

The value of a business is the cash it's going to produce in the future.