I know that Congress will do the right thing.

I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.

The advice "you never go broke taking a profit" is foolish.

The extraordinary business does not require good management.

Investors should remember that excitement and expenses are their enemies.

Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.

Mr. Market is your servant, not your guide.