Risk can be greatly reduced by concentrating on only a few holdings.

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.

Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers.

The Stock Market is designed to transfer money from the Active to the Patient.

Forecasts usually tell us more of the forecaster than of the forecast

One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.

If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.