All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.

Investment philosophy is the clear understanding that by owning shares of stocks he owns businesses, not pieces of paper.

I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.

Generally, we have translated greater output in the few hours of work per week over the last century. And that's a good trend of the future. But we do have to have a system that, as output of goods and services keeps increasing per capita, that it takes care of the people who are willing to work and really are not getting by very well with a family on a 40-hour week.

I don't like what's going on with the executive compensation.

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.

I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.