Those two guys are two of the smartest young men in the country, and it's much better to be copied by people that smart.

You have a real asset-price bubble in places like parts of California and the suburbs of Washington, D.C.

I know someone who lives next door to what you would actually call a fairly modest house that just sold for $17 million. There are some very extreme housing price bubbles going on .

It's worse than that. Those people who wanted to round pi to 3.2 were stupid. These people [the opponents of expensing options] are worse than stupid. They know it's wrong and want to do it anyway.

We just throw some decisions into the 'too hard' file and go onto others.

Warren gave a very optimistic prognosis. Some people seem to think there's no trouble just because it hasn't happened yet. If you jump out the window at the 42nd floor and you're still doing fine as you pass the 27th floor, that doesn't mean you don't have a serious problem. I would want to address the problem right now. They'd better face it.

I would rather throw a viper down my shirtfront than hire a compensation consultant.

A great civilization will bear a lot of abuse, but there are dangers in the current situation that threaten anyone who swings for the fences.