I grew up in a middle-class family, and my father's optimism and work ethic had a significant impact on my outlook on life. I learned a little bit about business when I was young, realizing that sometimes employees' interests can differ from those of the employer.

I learned the value of hard work and the importance of education from my dad, who wanted us to avoid the backbreaking work he did.

Warren and I were fortunate to have favorable outcomes in our investments, but we don't believe we deserve all the credit for it.

Having a good reputation is incredibly helpful in life, as demonstrated when key decisions were influenced by trust in Warren.

Warren had a passion for competitive success from a young age, which, combined with his high IQ and energy, gave him a significant advantage in investing.

Warren's ability to appraise his past decisions brutally helps him identify mistakes and avoid them in the future, contributing to his success.

I met Warren Buffett in 1959 when I returned to wind up my father's law practice, and I immediately recognized his intelligence and shared interest in successful investing.

Warren and I both wanted to buy good companies at cheap prices, which became essential when we started acquiring entire companies.

Despite living in poverty, we never felt the burden of it; we lived carefree, enjoying whatever little we had and kept working hard.