You can't stand to see your neighbor getting rich. You know you're smarter than he is and he's doing these things and he's getting rich.

To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices.

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

The [stock] market,like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.

If you’re in the luckiest one per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.

The secret to happiness is having low expectations.

Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price.