Brummies have adopted the sense that we live in a shit-hole, but in terms of green space, culture and community, it’s unrivalled. It’s a calm and happy place; my heart rate drops when I get off the train from London. I say, kind of with tongue in cheek, but not that far in my cheek, that it’s the best city in the world.

Well, I'm proud of my gender. I think, you know, and I've said this to my Berkeley colleagues this morning, but my feeling is that I think among women and girls that, you know, sometimes there's a sense that no matter what they do that their work will not be recognised the way it would be if they were a man. And I just … I hope that this prize and this recognition changes that at least a little bit, and that it's encouraging to other women who are in science, or even in other fields, to realise that, you know, their work can be honoured and that their work can have a real impact.

I went to the opera practically every night. I went to something practically every night, just learning and seeing and absorbing, and what I noticed is that there were singers that were only sort of slightly older than I whose voices sounded as though they were many decades older than that, and didn’t sound pretty, and I needed to understand what was happening. I mean there were singers that were 28 or 30 years old or something, and I would speak to them afterwards to say, “Was your voice tired tonight? Tell me what’s happening,” because I didn’t understand it. Their voices should have sounded fresh and blooming and wonderful, but instead they sounded different, and it was because they were singing a different opera every night, and singing whatever was offered, and I didn’t understand and needed to understand — because no one was telling me these things — why they just didn’t say no. Why didn’t they just say, “Oh no, I don’t think I should.”

In my opinion, the key to dealing with the future lies in knowing where you are, even if you can't know precisely where you're going. Knowing where you are in a cycle and what that implies for the future is very different from predicting the timing, extent and shape of the next cyclical move.

I've mentioned that we strongly prefer to use cash rather than Berkshire stock in acquisitions. A study of the record will tell you why: If you aggregate all of our stock-only mergers (excluding those we did with two affiliated companies, Diversified Retailing and Blue Chip Stamps), you will find that our shareholders are slightly worse off than they would have been had I not done the transactions. Though it hurts me to say it, when I've issued stock, I've cost you money.

Well, I ran out of gas. You know, I got to be what, 93 at that time, or something like that. And it just – same reason I gave up teaching. I teach – I was – I taught every year from when I was 21 till 88 or 89, and there just came a period when your body said different things to you, and you should turn it over to somebody, just like I did at Berkshire.

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.

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.

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.

The extraordinary delegation of authority now existing at Berkshire is the ideal antidote to bureaucracy. In an operating sense, Berkshire is not a giant company but rather a collection of large companies. At headquarters, we have never had a committee nor have we ever required our subsidiaries to submit budgets (though many use them as an important internal tool). We don't have a legal office nor departments that other companies take for granted: human relations, public relations, investor relations, strategy, acquisitions, you name it. We do, of course, have an active audit function; no sense being a damned fool.