An ounce of prevention is worth a pound of cure understated.

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

We don't have to be smarter than the rest. We have to be more disciplined than the rest.

I don't want to be on the other side of the table from the customer. I was never selling anything that I didn't believe in myself or use myself.

You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.

Focus on your customers and lead your people as though their lives depend on your success.

The true investor welcomes volatility ... a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.