We compiled a few of his best quotes to take you inside his head:
Separate yourself from the noise.
“I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.”
Always know who you’re dealing with.
“You can’t make a good deal with a bad person.”
Act with integrity.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Keep it simple.
“It is not necessary to do extraordinary things to get extraordinary results.”
You don’t have to be a genius to invest well.
“You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.”
Pick the right crowd.
“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”
Source: The Motley Fool
If you want to be successful, make reading a habit.
“I just sit in my office and read all day.”
Source: The Week
Go against the crowd.
“Be fearful when others are greedy and greedy when others are fearful.”
Source: Letter to shareholders, 2004
Give to those less fortunate.
“If you’re in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%.”
Some things take time.
“No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.”
Bad things aren’t obvious when times are good.
“After all, you only find out who is swimming naked when the tide goes out.”
Source: Letter to shareholders, 2001
Eat how you please.
“If I eat 2,700 calories a day, a quarter of that is Coca-Cola. I drink at least five 12-ounce servings. I do it every day … I checked the actuarial tables, and the lowest death rate is among 6-year-olds. So I decided to eat like a 6-year-old.”
Don’t forget business basics.
“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”