Warren Buffet on People and Investments

"Integrity, Intelligence and Energy." is what Warren Buffet looks for in People. Integrity being the key thing, because you might have Intelligence and Energy, but without Integrity these qualities are of no use. These fascinating nuggets of wisdom and more are captured in this interaction that Warren Buffet had with MBA students, captured in YouTube in a series of 10 short Videos.

Here is the first one of them.

Here are some other Nuggets that I picked up from the other videos in the series.

“Time is the friend to a wonderful business, and enemy of a lousy business even if you buy it cheap.”

To make money that they didn't have and didn't need they risked money that they did have and did need. (on Long Term Capital). If you risk something that is important to you, for something that is un-important to you it just does not make any sense.

If you think you will be  a lot happier if you got 2x instead of x you are probably making a mistake (On job choices)

If you are not an intense investor invest in an Index Fund low cost and has a lot of diversification for lowering risk. However if you can invest time into investing you should not hold more than 6 stocks.

Worth listening to all the 10 videos in this series. http://www.youtube.com/watch?v=DfuXKpMFUjc