If book knowledge made great investors, than the librarians would all be rich.

The first rule is not to lose. The second rule is not to forget the first rule.

I'm not worried they're all about the investments we make. I mean, listen, this country - we've got $46,000 or $47,000 of GDP per capita. Now, we've done pretty darn well. We'll do better in the future.

I'd rather have a $10 million business making 15 per cent than a $100 million business making 5 per cent.

Never invest in a business you don't understand.

It's a nightmare to administer some of this sort of thing, but I want to tell the shareholders of Berkshire, to the percent we own marketable securities or things for which there are market, even if those markets - I want to tell them what it's all about.

I have this complicated procedure I go through every morning, which is to look in the mirror and decide what I'm going to do. And I feel at that point, everybody's had their say.