Berkshire Hathaway Annual Meeting Best Of

Charlie Munger: "I think that a life properly lived is just learn, learn, learn all the time. Berkshire’s gained enormously from decisions by learning through a long, long period."

Hello everyone,

The Berkshire Hathaway annual meeting is around the corner (check out

The Rational Walk

for some good questions,

Kingswell

for comprehensive coverage of everything Berkshire, and if you attend, check out the emerging manager meeting hosted by my friend Tilman)

I’ve found past meetings to be a treasure trove of wisdom about investing, business, and life. You can find them all at CNBC, on Youtube, or listen to them as a podcast. Over the decades, Buffett and Munger have shared tons of laughs, stories, insights, and lessons.

I’ve listened to nearly all of them and have shared many excerpts on Twitter. Here are a few of my favorite quotes for the weekend. Might do a round 2 next week. Enjoy!

Warren and I know very successful businessmen who have not one true friend on earth. And that is no way to live a life. — Full quote

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• “When you get to be my age, you will be successful if the people that you would hope to have love you, do love you.”

• “A public opinion poll will not get you rich on Wall Street.”

• “You can’t make a good deal with a bad person.”

• “We will never be dependent on the kindness of strangers.”

• “It's been our experience that envy is a bigger motivation than greed.”

• “Interest rates power everything in the economic universe.”

• “Anything times zero is zero. I don’t care how many wonderful figures are in between.”

• “I love focused management.”

• “People get fearful en masse. Confidence comes back one at a time.”

• “The stock market is the most obliging, money-making place in the world because you don’t have to do anything.”

• Advice to the young: “You will see plenty of inflation. The best protection is your own earning power. The second best is a wonderful business.”