Trust is like the air we breathe--when it's present, nobody really notices; when it's absent, everybody notices.

Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.

Accounting is the language of business.

Investment philosophy is the clear understanding that by owning shares of stocks he owns businesses, not pieces of paper.

It's better to build than to buy if you can find the right people.

You pay a very high price in the stock market for a cheery consensus.

When Berkshire Hathaway laid out three billion dollars for GE today, we didn't spend it, we invested it. When the Federal government buys the mortgages, they're not spending it, they're investing it. Now, they're investing it in distress type assets but they're buying them at distress prices if they buy them at market. It's the kind of stuff I love to do. I just don't have 700 million. Maybe we could go in it together.