10 of my favorite idea from Buffett and Munger: 1. Wisdom is prevention. 2. The fundamental algorithm of life: repeat what works. 3. Everything that needs to be said has already been said. But since no one was listening, everything must be said again. 4. The difference between successful people and very successful people is that very successful people say 'no' to almost everything. 5. I did not succeed in life by intelligence. I succeeded because I have a long attention span. 6. Have maximum financial flexibility to face both hazards and opportunities. 7. We schedule time to think. Most people schedule themselves like a dentist. 8. History enables you to keep things in perspective. 9. It's an inversion process. Start out with failure, and then engineer its removal. 10. Life tends to snap you at your weakest link.