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.)

Well, that’s the optimistic reading of it, which you are never able to apply when it happens. You can read it this way when it’s over. Rationally speaking, it’s a period that’s needed, because the danger for every poet, I think, is to write too much. So these are the blessed moments of silence, protecting you from writing too many poems, diluting you and what you have to say in a stream of banal poems. It’s necessary, but still very painful, because I just don’t know what to do if I don’t write poems. I still survive, but it is painful.

The highest form that civilization can reach is a seamless web of deserved trust. Not much procedure, just totally reliable people correctly trusting one another. That's the way an operating room works at the Mayo Clinic. If a bunch of lawyers were to introduce a lot of process, the patients would all die. So never forget, when you're a lawyer, that you may be rewarded for selling this stuff, but you don't have to buy it. In your own life, what you want is a seamless web of deserved trust. And if your proposed marriage contract has forty-seven pages, my suggestion is you not enter.

But I am not looking to any accounts, and I’m not interested at all how many money I have in the bank, what is costing this or that. I’m only trying to realize my ideas.

I have also benefited from teaching; as I try to explain my views to students with critical and open minds, I find myself continually being challenged to go back and rethink ideas. I now see teaching and research as complementary, mutually reinforcing activities.

For me, it was just a thrill. I just remember thinking at that time, this is the sort of thing I would like to do, if I could. I did not come from a family of scientists. My father was a lawyer, my older brother was a lawyer.

It was probably a series of biographies of scientists like Pasteur, or even earlier ones — Leeuwenhoek inventing the microscope and Madame Curie. I forget how many others, but it was really just, for me, a fascination to learn about these great heroes. At that time, of course, they were totally inaccessible, almost non-human, to me. It became very interesting to me.

I did. As a kid, I liked music. I still like it a lot of course. I used to play the violin. I did contemplate, well, maybe that’s an option. I could become a musician. Somehow my parents got some advice that unless I was willing to spend eight or 10 hours a day just playing the violin that I should just give it up. To me, that was very bad advice because you could of course, get very involved in music without being a musician. Fortunately, even though I gave up eventually playing the violin myself, I never gave up my fondness for music. But if I had a chance again, I would not give it up. I would just do it as a hobby. I think that was just because I did not get the correct advice.

Certainly not. As a young child, I remember just dreaming about the Nobel Prize, but that was just a dream. It’s not something I would have ever thought was possible for me.

proud of recognizing that as a scientist, it was not only important to do research and find new things. I also felt a responsibility to apply them for the benefit of society.