On returning to Brisbane, I realised fairly quickly that I am an experimentalist at heart. A career as a diagnostic virologist was not for me!

But these days, if I have to choose between building my tennis résumé and building my family, I choose the latter.

I just felt like it would be a little bit better to take a back seat, work on my mindfulness. And I knew that the girls would do an absolutely great job and I didn't want to risk the team a medal for kind of my screw ups because they've worked way too hard for that. So I just decided that those girls need to go in and do the rest of the competition.

To get this prize, I was required to talk about how important a particular European feminist woman writer had been to me. Now the truth was that I had never managed to finish this feminist writer’s book. It did not speak to me. It would have been a lie to claim that she had any major influence on my thinking. […] I could have said that this woman was important to me, and I could have talked the talk, and I could have been given the prize and a shiny present. But I didn’t.

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.

In particular, my decision to sell McDonald's was a very big mistake. Overall, you would have been better off last year if I had regularly snuck off to the movies during market hours.

The asset I most value, aside from health, is interesting, diverse, and long-standing friends.

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.

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.

We've just passed a milestone: Twenty years ago, on January 3, 1972, Blue Chip Stamps (then an affiliate of Berkshire and later merged into it) bought control of See's Candy Shops, a West Coast manufacturer and retailer of boxed-chocolates. The nominal price that the sellers were asking - calculated on the 100% ownership we ultimately attained - was $40 million. But the company had $10 million of excess cash, and therefore the true offering price was $30 million. Charlie and I, not yet fully appreciative of the value of an economic franchise, looked at the company's mere $7 million of tangible net worth and said $25 million was as high as we would go (and we meant it). Fortunately, the sellers accepted our offer. The sales of trading stamps by Blue Chip thereafter declined from $102.5 million in 1972 to $1.2 million in 1991. But See's candy sales in the same period increased from $29 million to $196 million. Moreover, profits at See's grew even faster than sales, from $4.2 million pre-tax in 1972 to $42.4 million last year.