The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
There are two Gods, there is the God that people generally believe in - a God who has to serve them. This God does not exist. But the God whom people forget - the God whom we all have to serve - exists, and is the prime cause of our existence and of all that we perceive.
People are called 'stars' not only because they shine... because the qualities they exemplify are... eternal. We are attracted to their sparkle, their warmth, their light, but they will be forever distant from us. So distant we can never quite believe our inseparability. Never quite believe that we are also composed of the light they have.
Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too large to allow us to earn truly outsized returns. If you believe otherwise, you should consider a career in sales but avoid one in mathematics.
I deserted the world and sought solitude because I became tired of rendering courtesy to those multitudes who believe that humility is a sort of weakness, and mercy a kind of cowardice, and snobbery a form of strength.
My friends, whoever has had experience of evils knows how whenever a flood of ills comes upon mortals, a man fears everything; but whenever a divine force cheers on our voyage, then we believe that the same fate will always blow fair.
Certainly there are things worth believing. I believe in the brotherhood of man and the uniqueness of the individual. But if you ask me to prove what I believe, I can't. You know them to be true but you could spend a whole lifetime without being able to prove them. The mind can proceed only so far upon what it knows and can prove. There comes a point where the mind takes a leap—call it intuition or what you will—and comes out upon a higher plane of knowledge, but can never prove how it got there. All great discoveries have involved such a leap.