If this is a war, my side has the nuclear bomb. We have K Street. We have Wall Street. Debbie doesn't have anybody. I want a government that is responsive to the people who got the short straw in life.

It’s not that I want money. It’s the fun of making money and watching it grow.

The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.

An argument is made that there are just too many question marks about the near future; wouldn't it be better to wait until things clear up a bit? You know the prose: "Maintain buying reserves until current uncertainties are resolved," etc. Before reaching for that crutch, face up to two unpleasant facts: The future is never clear and you pay a very high price for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.

I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.

I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood; in fact, if it occurswe will be selling life jackets to the unprepared.