I Never Try To Predict The Market.

We've Used Derivatives For Many, Many Years. I Don't Think Derivatives Are Evil, Per Se, I Think They Are Dangerous.

The Value Of A Business Is The Cash It's Going To Produce In The Future.

The Patient That's On The Floor With The Cardiac Arrest Is Not Wall Street. It's The American Economy.

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.

It's Far Better To Buy A Wonderful Company At A Fair Price Than A Fair Company At A Wonderful Price.