The Wisdom of Warren Buffet

Berkshire Hathaway reported earnings this past Saturday. 
 
So it felt like a good time for some Uncle Warren nuggets of wisdom. 
 
On buy-and-hold, low-cost, index investing…
 
“…I went back to 1942. We have had 14 presidents. 7 Republicans. 7 Democrats. We have had world wars, 9/11, Cuban Missile Crisis. We have had all kinds of things. The best single thing you could have done on March 11th, 1942 is buy an index fund and never look at a headline… If you put $10,000 in an index fund that reinvested dividends… It would come to $51 million now.”
 
On the company you keep…
 
“It’s very important in life to associate with people that are better than you are. It’s the most important decision — you will go in the direction of the people that you associate with.”
 
And finally on habits…
 
“Chains of habit are too light to be felt until they are too heavy to be broken.”