'There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do.' - Morningstar Interview

'Sometimes you're outside your core competency. Level 3 is one of those times but I've made a bet on the people and I feel I understand the people. There was a…

'Berkshire's arbitrage activities differ from those of many arbitrageurs. First, we participate in only a few, and usually very large, transactions each year. …

'The important thing is to keep playing, to play against weak opponents and to play for big stakes.'- Nov. 2002 talking with students at Gaston Hall