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.

Amos and I shared the wonder of together owning a goose that could lay golden eggs – a joint mind that was better than our separate minds. … Some of the greatest joys of our collaboration-and probably much of its success – came from our ability to elaborate each other's nascent thoughts: if I expressed a half-formed idea, I knew that Amos would be there to understand it, probably more clearly than I did, and that if it had merit he would see it. Like most people, I am somewhat cautious about exposing tentative thoughts to others – I must first make sure that they are not idiotic. In the best years of the collaboration, this caution was completely absent.

More than 500 children under the age of 18 lost a parent in the Hanshin Earthquake; 88 of them lost both parents and became orphans. I have proposed the establishment of a foundation in order to support the education of these children so that they can sustain their hopes for the future. To that end, I would like to contribute the hundred thousand dollar prize awarded to me today by The Hyatt Foundation towards this new foundation for these young earthquake victims.

Our business everyday is to make money for people. And I take it as seriously as doctors who are trying to cure cancer, because by giving people financial freedom, we allow them to do great things in their lives - from retire to send their kids to college, to buy their first house, to fund a business that they might want to start.

I took Nicole out to dinner for the first time on 19 October, 1991. After that, everything changed.

Never take advice from anyone with no investment in the outcome.

People need justice.

It will be great if the plays stay funny.

Every morning, Monday to Friday, I get up at 7am and make my wife breakfast in bed.

I was jealous as hell.