I see 234 parking spaces, and I get concerned about people crossing the street. When the high school lets out, the place is already packed with cars.

It appears many insurers would be severely damaged, if not bankrupted, by a disproportionate share of a $10 billion loss. We believe that a certain amount of insurers may simply withdraw from writing certain lines of business.

He's exceptionally qualified as a manager. His charm and force of personality cause people to do what he wants. It just happens.

With this transaction, Berkshire is now clearly an insurance company that will generate excess capital and cash flow that can be invested and, of course, the real synergy here is that Warren Buffett is the master at allocating and using capital and General Re is a company that generates an enormous amount of excess capital, so it's a great fit.

Everybody wants attention and admiration. Nobody wants to be criticized. The sweetest sound in the English language is the sound of a person’s own name. The only way to get the best of an argument is to avoid it. If you are wrong, admit it quickly and emphatically. Ask questions instead of giving direct orders. Give the other person a fine reputation to live up to. Call attention to people’s mistakes indirectly. Let the other person save face.

It just hasn't been effectively implemented.