Thoughts on the Business of Life from Warren Buffett

"It takes twenty years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."

"You've got to understand accounting. You've got to. That's got to be like a language to you."

"Lose money for the firm, and I will be understanding; lose a shred of reputation for the firm, and I will be ruthless."

"The important thing is to know what you know and know what you don't know."

"I have every possession I want. I have a lot of friends who have a lot more possessions. But I feel in some cases the possession possesses them, rather than the other way around."