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.

The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified one wonderful business. With each investment you make, you should have the courage and the conviction to place at least 10% of your net worth in that stock.

There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.

The best thing I did was choose the right heroes.

Accounting is the language of business.

The single most important decision in evaluating a business is pricing power.

If you don't know the Jewelry, know the Jeweller