Fund Consultants Like To Require Style Boxes

The Ideal Business Is One That Earns Very High Returns On Capital And That Keeps Using Lots Of Capital At Those High Returns. That Becomes A Compounding Machine.

I Bought A Company In The Mid-90s Called Dexter Shoe And Paid $400 Million For It. And It Went To Zero. And I Gave About $400 Million Worth Of Berkshire Stock, Which Is Probably Now Worth $400 Billion. But I've Made Lots Of Dumb Decisions. That's Part Of The Game.

Charlie [munger] And I Are Not Big Fans Of Resumes. Instead, We Focus On Brains, Passion And Integrity.

If You Want A Government That's Going To Do The Things We Ask Our Government To Do, You've Got To Get It From Somebody.

The Fed Is The Greatest Hedge Fund In History.