Valuing a business is part art and part science.

All I have to do is think and not be influenced by others.

Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.

A diamond cannot be polished without friction, nor a person perfected without trials. Someone is enjoying shade today because someone planted a tree a long time ago.

The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.

The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.

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