It's a game of a million inferences. There are a lot of things to draw inferences from — cards played and not played. These inferences tell you something about the probabilities. It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. Bridge is about weighing gain/loss ratios. You're doing calculations all the time.

On the game of bridge, as quoted in Forbes (2 June 1997); also quoted in The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy (2000), p. 112