Warren, isn't it fair to say that if we did have an opinion, we wouldn't tell him?

I want to give my kids enough so that they could feel that they could do anything, but not so much that they could do nothing.

Rule number one of investing: Never lose money. Rule number two: Never forget rule number one.

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

I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.