In looking for people to hire, look for three qualities: integrity, intelligence and energy. And if they don't have the first, the other two will kill you.

Of our 49 billion, we haven't moved any to Bitcoin

You are lucky in life if you have the right heroes. I advise all of you, to the extent you can, to pick out a few heroes

Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.

What we really want to do is buy businesses that we would be happy to own forever.

I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.

I have no use whatsoever for projections or forecasts. They create an illusion of apparent precision. The more meticulous they are, the more concerned you should be. We never look at projections, but we care very much about, and look very deeply at, track records. If a company has a lousy track record, but a very bright future, we will miss the opportunity.