You know ... you keep doing the same things and you keep getting the same result over and over again.

The fact that people will be full of greed, fear, or folly is predictable. The sequence is not predictable.

In economics, you always want to ask 'And then what?'

I think people - what people want to do is make [economy] get worse.

We do not have, nor have had, and never will have an opinion about where the stock market, interest rates, or business activity will be a year from now.

I checked the actuarial tables, and the lowest death rate is among six-year-olds. So I decided to eat like a six-year-old.

After 25 years of buying and supervising a great variety of businesses, Charlie [Munger] and I have not learned how to solve difficult business problems. What we have learned is to avoid them. To the extent we have been successful, it is because we have concentrated on identifying one-foot hurdles that we could step over rather than because we acquired any ability to clear seven-footers.