I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.

If you can't communicate and talk to other people and get across your ideas, you're giving up your potential.

I always say that in investing you want to buy stock in a company that has a business that's so good that an idiot can run it, because sooner or later one will. We have a country like that.

I do not believe in inheriting your position in society based on which womb you come from... I think a rich person should leave his children enough so they can do anything, but not enough so they can do nothing.

Confidence is key. You're not going to put your money - you're not going to leave your money with me unless you're confident I'm going to give it back to you.

No formula in finance tells you that the moat is 28 feet wide and 16 feet deep. That's what drives the academics crazy. They can compute standard deviations and betas, but they can't understand moats.

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