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"When 40 billion of treasury bills are sold like, seven day treasury bills, at a yield of 1/20th of one percent, that means the whole country is basically at the point virtually, or a lot of the country is at the point of putting the money under the mattress."
"I mean, you can explain the fact that these are depressed prices, you know. We think these assets are going to be worth a lot more. And I think that case can be made in certain situations. But I think to just say, you know, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today."
"People went crazy with tulip bulbs. They went crazy with the South Sea Bubble, they went crazy internet stocks, they went crazy with the uranium stocks back when I was first getting started."
"I certainly do believe anyone engaged in the management of money should have a standard of measurement, and that both he and the party whose money is managed should have a clear understanding why it is the appropriate standard, what time period should be utilized, etc."
"Nevertheless, as circumstances presently appear, I feel substantially greater size is more likely to harm future results than to help them. This might not be true for my own personal results, but it is likely to be true for your results."
"At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer."
"We've seen what can be accomplished when we use 50% of our human capacity. If you visualize what 100% can do, you'll join me as an unbridled optimist about America's future."
"My rather puritanical view is that any investment manager, whether operating as broker, investment counselor of a trust department, investment company, etc., should be willing to state unequivocally what he is going to attempt to accomplish and how he proposes to measure the extent to which he gets the job done."
"There is no question that an important service is provided to investors by investment companies, investment advisors, trust departments, etc. This service revolves around the attainment of adequate diversification, the preservation of a long-term outlook, the ease of handling investment decisions and mechanics, and most importantly, the avoidance of the patently inferior investment techniques which seem to entice some individuals."
"If this is a war, my side has the nuclear bomb. We have K Street. We have Wall Street. Debbie doesn't have anybody. I want a government that is responsive to the people who got the short straw in life."
"Government can't deliver a free lunch to the country as a whole. It can, however, determine who pays for lunch. And last week the Senate handed the bill to the wrong party... the poor and middle class."
"I would say that life at 84, I am having as much fun as I've ever had in my life. I mean I get to do what I love every day with the people I love-and it just doesn't get any better than that."
"In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment."
"Who would think of buying or selling a private business because of someone's guess on the stock market? The availability of a quotation for your business interest (stock) should always be an asset to be utilized if desired. If it gets silly enough in either direction, you take advantage of it. Its availability should never be turned into a livability whereby its periodic aberrations in turn formulate your judgements."
"There are 309 million people out there that are trying to improve their lot in life. And we've got a system that allows them to do it."
"Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom."
"We have embraced the 21st century by entering such cutting-edge industries as brick, carpet, insulation and paint. Try to control your excitement."
"Most investors, both institutional and individual, will find that the best way to own common stocks (shares') is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after fees and expenses) of the great majority of investment professionals."
"The smarter the journalists are, the better off society is."
"It's just that I landed up in a terrific capitalist system. One that pays people who allocate capital extraordinarily well. Intrinsically, I'm not worth as much as somebody who invents something that could improves people's life, or health or whatever."