The most important investment you can make is in yourself.
You have to jump in the water
By the age of 10, I’d read every book in the Omaha public library about investing, some twice. You need to fill your mind with various competing thoughts and decide which make sense. Then you have to jump in the water – take a small amount of money and do it yourself. Investing on paper is like reading a romance novel vs. doing something else. You’ll soon find out whether you like it. The earlier you start, the better.
The most important quality for an investor
The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.
Not doing what we love
Not doing what we love in the name of greed is very poor management of our lives.
Your success in life
Basically, when you get to my age, you’ll really measure your success in life by how many of the people you want to have love you actually do love you.
Your life is a disaster
If you get to my age in life and nobody thinks well of you, I don’t care how big your bank account is, your life is a disaster.
Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
I measure success
I measure success by how many people love me.
We continue to make more money when snoring than when active.
Liquor and leverage
I’ve seen more people fail because of liquor and leverage – leverage being borrowed money. You really don’t need leverage in the world much. If you’re smart, you’re going to make a lot of money without borrowing.