I learned to go into business only with people whom I like, trust, and admire.

In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.

There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.

The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.

Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

I'm sitting with six and a half billion dollars we're going to use to close the Mars-Wrigley deal on October 6. I've got to hand over that six and a half billion on October 6. Now, I have to be very careful about who I leave it in between now and then, because they're expecting that he show up.

We will prosper or suffer in controlled investments in relation to the operating performances of our businesses - we will not attempt to profit by playing various games in the securities markets.