Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.

Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands.

My job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action.

Do not save what is left after spending, but spend what is left after saving.

It's a lot easier to buy things than it is to sell them.

When Berkshire buys common stock, we approach the transaction as if we were buying into a private business.

The woman that comes in, takes the wastebasket away, she's paying 15.3 or whatever it is on payroll tax alone. I mean it is - I never had it so good.