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

Warren's investment strategy involved thorough research, as demonstrated when he bought American Express after the salad oil scandal, believing it was a minor setback.

Warren made significant profits by following Benjamin Graham's advice to buy very cheap stocks, regardless of the company's quality, but he knew this strategy was self-limiting. Getting into great businesses that either have a great manager or can prosper even under poor management is crucial.

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 has a history of buying stocks below their working capital per share, which often meant investing in companies that were not performing well.

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

Warren Buffett's decision to invest in Berkshire Hathaway was influenced by an incident where the CEO tried to cheat him, which ultimately benefited his career.

Warren Buffett is highly competitive but prefers to win by playing fair and following the rules, avoiding games he is not skilled at.

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