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?

Nevertheless, as circumstances presently appear, I feel substantially greater size is more likely to harm future results than to help them. This might not be true for my own personal results, but it is likely to be true for your results.

Investors should remember that excitement and expenses are their enemies.

A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem.

Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.

Stocks are the only thing that people are happy to buy when the price goes up.

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