With an estimated net worth of around $42 billion, Warren Buffett is considered the second wealthiest person in the world. He has used his unique personality and management style to master the art of investment and create an empire, owning a 38% stake in Berkshire Hathaway. In recent years, he has committed himself to giving away 85% of his fortune, primarily to the Bill and Melinda Gates Foundation. Whether he is making money or giving it away, Buffet has made a name for himself as one of the most astute entrepreneurs and investors in history.

He is the second richest man in the world and arguably the most successful American investor in history. Although Buffett has not strayed far from his Nebraska upbringings, his career has soared for over 50 years. How did this once shy boy who took a Dale Carnegie course on public speaking rise to become the stock market guru that he is today?

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.

The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective. I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over. I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.

You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.

You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be. And if it can’t stand applying pencil to paper, you’d better think it through some more. And if you can’t write an intelligent answer to those questions, don’t do it.

The first rule is not to lose. The second rule is not to forget the first rule. You’ve been drafted into a war you didn’t start, … Focus on your customers and lead your people as though their lives depended on your success.

Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without the first, you really want them to be dumb and lazy.

I get to do what I like to do every single day of the year. I get to do it with people I like, and I don’t have to associate with anybody who causes my stomach to churn. I tap dance to work, and when I get there I think I’m supposed to lie on my back and paint the ceiling. It’s tremendous fun.

Working with people who cause your stomach to churn seems much like marrying for money – probably a bad idea under any circumstances, but absolute madness if you are already rich.

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.“

Are you hanging around the right people to get your business to the next level?