My friend Trond is in business school at MIT Sloan right now. He just got back from a class field trip to meet with Warren Buffet. One of the many things that makes MIT attractive, I suppose.

Anyway, he posted his notes from the trip up on his blog. A few of my favorite Buffet quotes:

"The important thing isn't having a big circle of compentency, its knowing where its perimeter is."

"Possessions to me are a pain in the neck. I really don't want something just because someone else wants it. The best thing to do is to have rich friends, that way you can enjoy their boat without the pain in the neck that goes along with owning a boat."

"I've been lucky, born at the right time in history. If I had been born much earlier, I would have been some animal's lunch. I can't run very fast, I'm not very big -- the animal would be coming and I would say: "Stop, or I'll allocate your capital!" I don't think it would do me any good."

Great stuff.