How to Become Rich: 24 Insights from Warren Buffett

Warren Buffett is a true genius as
he is able to simplify complex
ideas into quotes that will stand
the test of time. Warren Buffett
spent his life dispensing advice
to all who would listen, earning
him the nickname of the Oracle
of Omaha. In the 1960s, this
advice came about twice a year
in letters to investors in his
investment partnerships. Starting
a few years later, Warren
Buffett's wisdom was distilled
through the Berkshire Hathaway
annual meeting and the annual
shareholder letter, and in the
past 20 years, Warren Buffett has
become a household name
through appearances on TV and
interviews in magazines.
Read on for Warren Buffett's best
quotes on life, investing, and his
top five insights.
On life
1. "You only have to do a very
few things right in your life so
long as you don't do too many
things wrong."
2. "Should you find yourself in a
chronically leaking boat, energy
devoted to changing vessels is
likely to be a more productive
than energy devoted to patching
leaks."
3. "It is not necessary to do
extraordinary things to get
extraordinary results."
4. "What we learn from history is
that people don't learn from
history."
5. "Chains of habit are too light
to be felt until they are too heavy
to be broken."
6. "There seems to be some
perverse human characteristic
that likes to make easy things
difficult."
7. "Nothing sedates rationality
like large doses of effortless
money."
8. "It takes 20 years to build a
reputation and five minutes to
ruin it. If you think about that,
you'll do things differently."
9. "It's better to hang out with
people better than you. Pick out
associates whose behavior is
better than yours and you'll drift
in that direction."
10. "Long ago, Ben Graham
taught me that 'Price is what you
pay; value is what you get.'
Whether we're talking about
socks or stocks, I like buying
quality merchandise when it is
marked down."
On investing
1. "The most important quality
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