Never test the depth of river with both the feet.

The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.

What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.

I mean, in terms of alternatives, some people have suggested for example that why don't we - why isn't America doing what Berkshire Hathaway is doing? Why isn't that a better deal for America?

If you gave me the choice of being CEO of General Electric or IBM or General Motors, you name it, or delivering papers, I would deliver papers. I would. I enjoyed doing that. I can think about what I want to think. I don't have to do anything I don't want to do.

The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.

A contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling.