14 more ideas from Buffett and Munger I don’t want to forget: 1. The one thing that has surprised me all my life is how many people with high IQs do massively stupid things. 2. Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You can't build it in one day, or one week. 3. Unfortunately, Bert... See more

Charlie Munger’s formula: “There is an old two-part rule that often works wonders in business, science, and elsewhere: (1) Take a simple, basic idea and (2) take it very seriously.”

• About 99% of the time, the right time is right now.

• No one is as impressed with your possessions as you are.

• Dont ever work for someone you dont want to become.

• Cultivate 12 people who love you, because they are worth more than 12 million people who like you.

• Dont keep making the same mistakes; try to make new mistakes.

• If you stop to listen... See more

Six years ago I celebrated my 68th birthday by gifting my children 68 bits of advice I wished I had gotten when I was their age. Every birthday after that I added more bits of advice for them until I had a whole book of bits. That book was published a year ago as Excellent Advice for Living , which many people tell me they read very slowly, just on... See more