No, I think they were two totally different careers, because when I was acting, I was always impersonating different people, so it was never me—it was never myself. When I started to sing, I suddenly felt naked. I mean, I knew that was going to happen, because that’s the reason why I couldn’t do it before—when I was a teenager, I just couldn’t play in front of anyone at all—it was impossible, my hands started to shake, my voice was gone, and I was so self-conscious of what people would think about what I was doing. Because I didn’t know how to play songs that anybody knew—all I knew how to play were my own songs, and so I had this feeling of having my own chords and my own things that weren’t—I was afraid of being judged as doing nonsense music. But then maybe what the acting did to me was that I got more courage to do what I really wanted to do, even though I had all these fears that were still inside me.

I don't think I could go for another three years. I'm leaving it at the right time, I love it, I've absolutely had a wonderful competition and I've loved every minute of it.

As a very young singer, I was invited to the opera house in Berlin by the then-director of the opera house, Egon Seefehlner, and I had one opera to my name that I knew. He felt that there was a lot that I could learn there, which was very true, and I was so lucky to be able to have this opportunity. The thing that was happening is that I kept being offered operas that I knew that I wasn’t ready to sing, just from an experience point of view, as well as being 24 years old. So I was always asked to sing things that I thought, “Well no, I really don’t think I should sing that now. I need to sing that maybe in five years, or maybe in 10 years, but not right now. Couldn’t I please sing something else?” And that became a difficulty for me. And after being at the opera house for three years, and singing Elsa and Elisabeth — the Wagner roles that are not sort of the heavy Wagner roles — and then Mozart operas that suited my voice at the time, I was continually invited to sing things that I just felt I shouldn’t. So I took it upon myself to go to speak with the artistic director to say that I thought I should leave the opera house, and come back in some years when my maturity sort of chronologically would have caught up with the invitations that I was being offered. Of course, considering that he’d taken me into the opera house when I knew one role, he wasn’t all that happy. I thought he’d say, “Oh, what a smart girl. Oh yes, absolutely. That’s what we’ll do.” No, no. He was absolutely furious.

I have never liked the word retirement. It doesn't feel like a modern word to me. I've been thinking of this as a transition, but I want to be sensitive about how I use that word, which means something very specific and important to a community of people. Maybe the best word to describe what I'm up to is evolution. I'm here to tell you that I'm evolving away from tennis, toward other things that are important to me.

Well, I won't say what I thought about them, particularly related to Bill Gates, but I would say it's astounding to me how human people are. I mean, it, here you had a guy that was a convicted guy, a sensational con man, and the percentage of people that he knocked off. I mean, whether it was, he found their weakness, it might have been sex. It might be power, it might be, whatever it might be.

My first mistake, of course, was in buying control of Berkshire. Though I knew its business - textile manufacturing - to be unpromising, I was enticed to buy because the price looked cheap. Stock purchases of that kind had proved reasonably rewarding in my early years, though by the time Berkshire came along in 1965 I was becoming aware that the strategy was not ideal. If you buy a stock at a sufficiently low price, there will usually be some hiccup in the fortunes of the business that gives you a chance to unload at a decent profit, even though the long-term performance of the business may be terrible. I call this the "cigar butt" approach to investing. A cigar butt found on the street that has only one puff left in it may not offer much of a smoke, but the "bargain purchase" will make that puff all profit. Unless you are a liquidator, that kind of approach to buying businesses is foolish.

Charlie and I decided long ago that in an investment lifetime it's just too hard to make hundreds of smart decisions. That judgment became ever more compelling as Berkshire's capital mushroomed and the universe of investments that could significantly affect our results shrank dramatically. Therefore, we adopted a strategy that required our being smart - and not too smart at that - only a very few times. Indeed, we'll now settle for one good idea a year. (Charlie says it's my turn.)

The reaction of my family and me to our extraordinary good fortune is not guilt, but rather gratitude. Were we to use more than 1% of my claim checks on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others.

I think that Jay Powell in when, when the epidemic broke out, I think he acted in March of 2020 and I think if he'd waited two or three weeks, it would have been a disaster. Once the dominoes start toppling, they just start toppling and, and, and, and that line is shorter than anybody thinks, and it topples faster. And I think he did exactly the right thing, and he, he did it even stronger than Volker did. You know, I mean, he, he and Volker are my heroes at the Fed.

This pledge will leave my lifestyle untouched and that of my children as well. They have already received significant sums for their personal use and will receive more in the future. They live comfortable and productive lives.