If You Understood A Business Perfectly And

Knowing The Edge Of Your Competency Is Important. If You Think You Know More Than You Do, You Will Get In Trouble.

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

Other Guys Read Playboy. I Read Annual Reports.

I Have No Views As To Where It Will Be, But The One Thing I Can Tell You Is It Won't Do Anything Between Now And Then Except Look At You. Whereas, You Know, Coca-cola (ko) Will Be Making Money, And I Think Wells Fargo (wfc) Will Be Making A Lot Of Money And There Will Be A Lot - And It's A Lot - It's A Lot Better To Have A Goose That Keeps Laying Eggs Than A Goose That Just Sits There And Eats Insurance And Storage And A Few Things Like That.

The Stockmarket Is A Semi-psychotic Creature Given To Extremes Of Elation And Despair.