"Disruptive innovation is the kind that unhinges old ways of operating, juices competition and creates new growth. One of the world’s leading experts on the subject is Regina Dugan."

"Regina does bring in outside perspective specifically related to projects that are leaps, versus incremental steps."

"The way I solved the theoretical problem was to go into the shop and build something concrete."

"Your waistline may be spreading but you can't blame it on the expansion of the universe."

"Ever since before quantum phenomena became definitely recognized many attempts were made to picture their mechanism."

"Show me the incentive and I will show you the outcome."

"We don't want to make our money selling things that are bad for people."

"You fix what can be fixed, and what can't be fixed you endure."

"What I would say is the single most important thing, if you want to avoid all the stupid errors, is knowing where you're competent and where you aren't. And that's very hard to do because the human mind naturally tries to make you think you're way smarter than you are."

"I don't think that she knows who Adam Smith was."

"You don’t have a lot of envy, you don’t have a lot of resentment. You don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people, and you do what you’re supposed to do. And all these simple rules work so well to make your life better. And they’re so trite."

"... I regard it as a cinch that a great nation will in due time be Rome. ... Where is Rome? Where is Britain in its heyday? They all pass and so our turn is bound to come some day."

"I see [Bitcoin as] an artificial speculative medium that people are buying just because they think they can sell it to somebody else at a higher price, even though it inherently has no intrinsic value. So, I regard the whole business as anti-social, stupid, immoral. [...] I regard the thing as a combination of dementia and immorality, and I think the people that are pushing it are a disgrace."

"Neither Warren nor I have ever used any fancy math in business — and neither did Ben Graham who taught Warren. Everything I have ever done in business could be done with the simplest algebra and geometry and addition and multiplication and so forth. I never used calculus for any practical work in my whole damn life — and I was a perfect whiz at it when they taught it to me."

"How do these super-smart people with all these degrees and higher mathematics end up doing these dumb things? I think it's explainable by the old proverb that to the man with a hammer every problem looks pretty much like a nail. They've learned these techniques and they just twist the problem so it fits the solution — which is not the way to do it."

"You can't give the average Wall Street CEO really lenient standards of accounting and expect the figures to be good. The accountant is like the referee in soccer. The accountant has to be the adult that prevents the mayhem. Accountants don't want to be the adults because it causes liability, it causes responsibility, it causes difficulty ... they failed us terribly."

"Our investment style has been given a name - focus investing - which implies ten holdings, not one hundred or four hundred. The idea that it is hard to find good investments, so concentrate in a few, seems to me to be an obvious idea. But 98% of the investment world does not think this way. It's been good for us."

"You have to learn all the big ideas in the key disciplines in a way that they're in a mental latticework in your head and you automatically use them for the rest of your life. If you do that, I solemnly promise you that one day you'll be walking down the street and you'll look to your right and left and you’ll think "my heavenly days, I'm now one of the few competent people in my whole age cohort." If you don't do it, many of the brightest of you will live in the middle ranks or in the shallows."

"The hard part of the process for most people is the first $100,000. If you have a standing start at zero, getting together $100,000 is a long struggle for most people."

"The first $100,000 is a bitch, but you gotta do it. I don’t care what you have to do — if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit."

"Obviously, you have to know accounting. It's the language of practical business life. It was a very useful thing to deliver to civilization. I've heard it came to civilization through Venice which of course was once the great commercial power in the Mediterranean. However, double-entry bookkeeping was a hell of an invention. And it's not that hard to understand. But you have to know enough about it to understand its limitations — because although accounting is the starting place, it's only a crude approximation. And it's not very hard to understand its limitations. For example, everyone can see that you have to more or less just guess at the useful life of a jet airplane or anything like that. Just because you express the depreciation rate in neat numbers doesn't make it anything you really know."

"... much of what is taught in modern corporate finance courses is twaddle."

"Blue Chip's business model eventually became obsolete, and its sales slowly declined over the years, from $126 million in sales in 1970 to $1.5 million in 1990. But, in its heyday, under Charlie's direction, Blue Chip used its surplus capital to purchase 100% of See's Candies and 80% of a finance company called Wesco, which owned a savings and loan. Just as Warren had taken capital out of Berkshire's failing textile operation to buy a thriving insurance company, National Indemnity, Charlie took the excess capital out of Blue Chip Stamp and invested it in profitable businesses. Eventually Blue Chip Stamp was merged into Berkshire Hathaway."

"Charlie's mind has a greater span than I do. He has read more biographies, hundreds per year. He soaks them up and remembers [them]."

"Not only God knows, I know, and by the end of the semester, you will know."

"Steve Weinberg was giving the gauge seminar one Wednesday and was, as I recall nearly finished or just finishing his talk. Sidney had not arrived. So-Young Pi asked Steve a question and Steve replied (as I recall) “That’s a good question. I don’t know the answer; I haven’t thought about it.” At that exact instant Sidney enters the room, hears Steve’s reply, heads for the coffee pot, and says “I know the answer; what’s the question?” He was told the question, and he answered it. (Correctly, of course.)"

"If you haven't read his Erice Lectures, you don't know the heights that scientific writing can attain."

"Sidney Coleman was not only a leader in theoretical particle physics, but also a hugely gifted and dedicated teacher. In his courses he found just the right balance between rigor and intuition, enlivened by wit, humor and a deep store of anecdotes about the history of physics. Very often these were first-hand accounts; if he wasn't a participant, he was an eyewitness."

"The career of a young theoretical physicist consists of treating the harmonic oscillator in ever-increasing levels of abstraction."

"Every successful physical theory swallows its predecessor alive. But it does so by interpreting the concepts of the old theory in terms of the new, not the other way around. Thus our aim is not "the interpretation of quantum mechanics." It is the interpretation of classical mechanics."

"People get a lot of confusion, because they keep trying to think of quantum mechanics as classical mechanics"

"Simplicity is the touchstone in finding new physical laws. … If it's elegant, then it's a rough rule of thumb: you're on the right track."