So smile when you read a headline that says "Investors lose as market falls." Edit it in your mind to "Disinvestors lose as market falls-but investors gain." Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: "Every putt makes someone happy.")

Every day that goes by, I mean, if you don't react to Pearl Harbor for a week or two weeks or three weeks, you're behind in the war that you otherwise would have fought.

Charlie [Munger] and I are not big fans of resumes. Instead, we focus on brains, passion and integrity.

We look for things I can understand. A lot of businesses I don't understand.

The best investment you can make is in yourself.

Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.

I think the FDIC was one of the great inventions of the American.