Life Lessons from a visit to Warren Buffett - rocketMBA

Life Lessons from a visit to Warren Buffett

Life Lessons from a visit to Warren Buffett

One of the most memorable business school experiences was having the chance to hear Warren Buffett speak for several hours. The following are some of the quotes that stuck:

On Leadership

“It’s enormous when people have confidence in you…When you are around people who feel that way around you, you rise up to the occasion.”

“Never let problems sit unattended to. In business and in your personal life.”

“When you have a talented person, we believe in loading them up with responsibility.”

“If you want to be a leader, you have to get people to follow you. Leadership is taking people where you want to lead them, and having them believe in you.”

On Friendship & Family Life

“You want to hang around with people better than you are.”

“Marry up, not in terms of money, but in terms of character. Who you marry is the most important thing you can do in your life…Marry well and someone who brings out the best in you. If you make a mistake, it can be painful to get out of.”

“Marry someone you want to be like.”

“My father said whatever you do, I am for. Unconditional love is the most powerful thing in the world.”

On Ethics

“Setting the tone at the top is critical. If the person at the top is grabbing every dollar for themselves, then that signals to people that this is every man for himself.”

“We do not need to play at the edge of the line. Play in the center of the court, and we will make plenty of money.”

On Opportunities

“You want to be doing things, but if lighting strikes, you want to take advantage of that.”

On Investing

“It’s not emotional intelligence, it’s emotional stability. You don’t need a lot of IQ, you need some. 130 is enough for finance.”

“As [his business partner Charlie Munger] says, it’s great to have an IQ of 180, but if you think it’s 200, that’s not good.”

“I like businesses that are easy to predict. You don’t have to have an edge in everything.”

“It’s wanting to get rich too fast that gets people into trouble.”

(The photo above was taken from Warren Buffett’s video address at the SelectUSA Investment Summit.)

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Before graduating from Stanford GSB with an MBA in 2016, Alex worked for three years in public equity investing. Born and raised in Los Angeles, Alex enjoys hanging out at the beach with friends, playing basketball, and learning about history. He currently works in Equity Research in Downtown LA.


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