'Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.' - Berkshire Hathaway 1998 Annual Meeting

'Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.'- 1974 Letter to Shareholders

'If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on what the price of the object is go…

'We have tried occasionally to buy toads at bargain prices with results that have been chronicled in past reports. Clearly our kisses fell flat. We have done w…