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“Growth to come from inside the company rather than through acquisitions.”
“One thing you don’t transport is culture. …..I wouldn’t want to tackle buying them and trying to convert their culture to ours. I would rather grow it internally and not have to make changes in someone else’s company.”
“As soon as you give up the customer to someone else, you give up control over the sale and over the after-sale service….if something doesn’t run perfectly, we have no one to blame but ourselves.”
“Be open to new ideas, but don’t abandon the learnings gained by experience.”
“First rate man should be willing to take at least some difficult jobs with a high chance of failure.”
“I’ve been in one aspect or another of investment management for what. 44 years or so, and trying not to disappoint anyone,” said Buffett. “And in the process of not disappointing anyone, one of the key factors is having them have the proper expectations and being knowledgeable about what they’re getting and what they’re not getting. Neither Mr. Munger nor I would function as effectively if we had tens of thousands of people who were in one way or another disappointed with us. That’s not Berkshire.”
“Growth to come from inside the company rather than through acquisitions.” 
