I don't measure my life by the money I've made. Other people might, but certainly don't.

Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble.

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

Mr. Market is kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed. And when he get really enthused you sell to him, and if he gets depressed, you buy from him. There's no moral taint attached to that.

Honesty is a very expensive gift, Don't expect it from cheap people.

I think the FDIC was one of the great inventions of the American.

At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer.