An Investor Should Act As

We Only Want To Link Up With People Whom We Like, Admire, And Trust. ... We Do Not Wish To Join With Managers Who Lack Admirable Qualities, No Matter How Attractive The Prospects Of Their Business. We've Never Succeeded In Making A Good Deal With A Bad Person.

Wall Street Makes Its Money On Activity. You Make Your Money On Inactivity.

I Have Pledged - To You, The Rating Agencies And Myself - To Always Run Berkshire With More Than Ample Cash. We Never Want To Count On The Kindness Of Strangers In Order To Meet Tomorrow's Obligations. When Forced To Choose, I Will Not Trade Even A Night's Sleep For The Chance Of Extra Profits.

I Think What People Understand There Probably - Well, They Were Hoping The Private Sector Would Do It [rescuing Aig ].

We Set No Volume Goals In Our Insurance Business Generally-and Certainly Not In Reinsurance-as Virtually Any Volume Can Be Achieved If Profitability Standards Are Ignored.