Derivatives are financial weapons of mass destruction. - Warren Buffett

Managers who want to expand their domain at the expense of owners might better consider a career in government.

I could end the deficit in five minutes. You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.

We do not follow the common practice of talking one-on-one with large institutional investors or analysts, treating them instead as we do all other shareholders. There is no one more important to us than the shareholder of limited means who trusts us with a substantial portion of his or her savings. As I run the company day-to-day — and as I write this letter — that is the shareholder whose image is in my mind.