I measure success by how many people love me. And the best way to be loved is to be lo veable.

By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.

Traditional wisdom is long on tradition and short on wisdom.

After 25 years of buying and supervising a great variety of businesses, Charlie [Munger] and I have not learned how to solve difficult business problems. What we have learned is to avoid them. To the extent we have been successful, it is because we have concentrated on identifying one-foot hurdles that we could step over rather than because we acquired any ability to clear seven-footers.

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

I never invest in anything that I don't understand.

One observer commenting on security analysts over forty stated: "They know too many things that are no longer true." As long as I am "on stage", publishing a regular record and assuming responsibility for management of what amounts to virtually 100% of the net worth of many partners, I will never be able to put sustained effort into any non-BPL activity. If I am going to participate publicly. I can't help being competitive. I know I don't want to be totally occupied with out-pacing an investment rabbit all my life. The only way to slow down is to stop.