Let only individuals contribute - with sensible limits per election. Otherwise, we are well on our way to ensuring that a government of the moneyed, by the moneyed, and for the moneyed shall not perish from the earth.

That's been lost. It's a huge problem. What you have is you have the major institutions of the world all wanting to deleverage. They want to take down their assets and liabilities. What seemed so easy to borrow against a year ago now looks like rat poison to them. So they're trying to deleverage. There is only one institution in the world that can leverage up in a way that's all a countervailing force to that, and that's the United States Treasury.

If you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market.

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.

That which is not worth doing at all is not worth doing well.

When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.

If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.