“You need a different checklist and different mental models for different companies.”

“I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.” — 1997 Berkshire Hathaway Annual Meeting.

“Knowing what you don’t know is more useful than being brilliant.”

“The big money is not in the buying and selling … but in the waiting.”

“The difference between a good business and a bad business is that good businesses throw up one easy decision after another.”

“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. All these simple rules work so well to make your life better.” — 2019 CNBC interview

Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself; 2) Don’t work for anyone you don’t respect and admire; and 3) Work only with people you enjoy.

Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.

Opportunity comes to the prepared mind.

“Almost everybody that has an unusually good result has three things: They’re very intelligent, they worked very hard, and they were very lucky. It takes all three to get them on this list of the super-successful. How can you arrange to have two or three episodes of good luck? The answer is you can start early and keep trying a long time, and maybe you’ll get one or two.” — Acquired podcast, 2023

“The best way to get what you want in life is to deserve what you want. How could it be otherwise? It’s not crazy enough so that the world is looking for a lot of undeserving people to reward.” — University of Michigan lecture, 2010

“Investing is where you find a few great companies and then sit on your ass.”

“The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor. “

“Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.”

“We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire.”

“Great investing requires a lot of delayed gratification.”

“It’s waiting that helps you as an investor and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.” — Wall Street Journal interview, 2014

“Every time you hear EBITDA, just substitute it with bullshit”.

“The very first step towards success in any occupation is to become interested in it.”

“The game of life is the game of everlasting learning. At least it is if you want to win.”

“The first rule of a happy life is low expectations. That’s one you can easily arrange. And if you have unrealistic expectations, you’re going to be miserable all your life.”

“The safest way to get what you want is to try and deserve what you want.”

“The best thing a human being can do is to help another human being know more.”

“I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick. It’s not brilliance. It’s just avoiding stupidity.”

“Invert, always invert: Turn a situation or problem upside down. Look at it backward.”

“Those who keep learning will keep rising in life.”

‘Don’t worry about the textile mills. Just look for other great companies and build around that.’ And [Buffett] did.”

“I’ve written my obituary the way I’ve lived my life. if you want to pay attention to it, it’s alright with me, and if they want to ignore it, that’s okay with me too.”

“Many hard problems are best solved when they are addressed backwards”

“Spend each day trying to be a little wise than you were when you wake up.”