Warren Buffett turned 96 on Sunday.

Over the years, he has had lots to say from his perch at Berkshire Hathaway, detailing his thoughts on everything from investing to American politics in yearly shareholder letters that sometimes spanned dozens of pages.

He didn't write a letter this year, with CEO Greg Abel taking over the tradition, but many shareholders still parse his writings.

Here are some of the most memorable passages.

1992: "It's true, of course, that, in the long run, the scoreboard for investment decisions is market price. But prices will be determined by future earnings. In investing, just as in baseball, to put runs on the scoreboard one must watch the playing field, not the scoreboard."

1993: Hurricane "Andrew destroyed a few small insurers. Beyond that, it awakened some larger companies to the fact that their reinsurance protection against catastrophes was far from adequate. (It's only when the tide goes out that you learn who's been swimming naked.)"

2012: "Bubbles blown large enough inevitably pop. And then the old proverb is confirmed once again: 'What the wise man does in the beginning, the fool does in the end.'"

2016: My parents, when young, could not envision a television set, nor did I, in my 50s, think I needed a personal computer. Both products, once people saw what they could do, quickly revolutionized their lives. I now spend ten hours a week playing bridge online. And, as I write this letter, 'search' is invaluable to me. (I'm not ready for Tinder, however.)"

2025: A single winning decision can make a breathtaking difference over time. (Think Geico as a business decision, Ajit Jain as a managerial decision and my luck in finding Charlie Munger as a one-of-a-kind partner, personal advisor and steadfast friend.) Mistakes fade away; winners can forever blossom.

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