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“I think what people love about the Steve Jobs story is not just the track record at Apple, but that comeback story, that he was thrown out of Apple, came back and built the company even greater. And that perseverance is so important in terms of entrepreneurship. And nobody is a better role model for that, for all entrepreneurs all over the world than Steve Jobs.”

“Berkshire's whole record has been achieved without paying one ounce of attention to the efficient market theory in its hard form. And not one ounce of attention to the descendants of that idea, which came out of academic economics and went into corporate finance and morphed into such obscenities as the capital asset pricing model, which we also paid no attention to. I think you'd have to believe in the tooth fairy to believe that you could easily outperform the market by seven-percentage points per annum just by investing in high volatility stocks.”

“The Domino Effect could stand for anything. It could be just the simple game of the domino rocks falling off one after another, all kinds of decision we make that come back to our face. For example take an anorexic model that stops eating until she dies, or the bombs that a are thrown in a war and the effect they have on people, or even something simple as listening to a record that you like until you get bored of it and leave it in your shelf.”