'We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff.' - 1999 Berkshire Hathaway Annual Meeting

'I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.'- lecturing to a group of students …

'The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advant…

'The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable.' - Financial Review, 1985