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

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.

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.

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

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

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.

Despite facing criticism, Warren Buffett's approach allowed him to make billions for many people, even those he didn't know, and he doesn't regret his choices.