The greatest investment a young person can make is in their own education, in their own mind. Because money comes and goes. Relationships come and go. But what you learn once stays with you forever.

Buy into a company because you want to own it, not because you want the stock to go up.

The stockmarket is a semi-psychotic creature given to extremes of elation and despair.

I certainly have no desire to sell a good controlled business run by people I like and admire, merely to obtain a fancy price. However, specific conditions may cause the sale of one operating unit at some point.

In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'

When Berkshire buys common stock, we approach the transaction as if we were buying into a private business.

I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that ...I'm paying $32 billion today for the Coca Cola Company because... If you can't answer that question, you shouldn't buy it. If you can answer that question, and you do it a few times, you'll make a lot of money.