If you have a great manager, you want to pay him very well.

If calculus or algebra were required to be a great investor, I'd have to go back to delivering newspapers.

No matter how much talent or effort, some things just take time into complete: you can never be a baby in one month by nine women pregnant.

Only when the tide goes out do you discover who's been swimming naked

Price is what you pay. Value is what you get.

The 3 percent overall federal tax rate I would pay -- if a Berkshire dividend were to be tax free -- seems a bit light.