We've Got A Wonderful Economic Formula In

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.

An Investor Should Act As Though He Had A Lifetime Decision Card With Just Twenty Punches On It.

If You Have More Than 120 Or 130 I.q. Points, You Can Afford To Give The Rest Away. You Don't Need Extraordinary Intelligence To Succeed As An Investor.

We Do Not Have, Nor Have Had, And Never Will Have An Opinion About Where The Stock Market, Interest Rates, Or Business Activity Will Be A Year From Now.

Shares Are Not Mere Pieces Of Paper. They Represent Part Ownership Of A Business. So, When Contemplating An Investment, Think Like A Prospective Owner.