Omaha-based investment giant Berkshire Hathaway’s Chief Executive Officer (CEO), Warren Buffett, shared key life lessons and advice for upcoming young investors. However, this suggestion does not involve where people should invest their money, reported the news portal Fortune, citing Warren Buffett from the shareholder meeting on May 3, 2025.
Warren Buffett recommended that the company’s board make Greg Abel the next CEO of Berkshire Hathaway by the end of this year, after he decided to step down after serving 60 years.
While sharing his life lessons and some key advice for young investors, Buffett’s suggestions did not involve any strategy for investing in the markets or any long-term investment outlook.
“Who you associate with is just enormously important, and don’t expect you’ll make every decision right on that,” said the 94-year-old value investor, emphasising the value of people. “You’re going to have your life progress in the general direction of the people that you work with, that you admire, that become your friends.”
Who should you hang out with?
Leveraging his over 60 years of experience, Warren Buffett recommended that young investors should hang out with people who are better than you to learn from them, instead of following someone and trying to copy what they do.
“There are people that make you want to be better than you are, and you want to hang out with people that are better than you are and that you feel are better than you,” said Buffett, responding to a question on his advice to young investors.
Buffett highlighted that he himself tried to be around smart people whom he could learn from, and also suggested that we should return any helpfulness that others offer us, according to the news portal’s report.
“So you get a compounding of good intentions and good behaviour, and unfortunately, you can get the reverse of that in life too,” said Buffett in the meeting.
Professional Warning
Warren Buffett also requested that people look for a profession that they would still do if they did not need the money which comes along with it. He also suggested staying away from people who often tell you to do something you shouldn’t be doing.
“You really want something that you’ll stick around for, you know, whether you need the money,” said the value investor, cited in the news report.
He also emphasised the importance of keeping the curiosity factor alive and reading a lot to learn more.
“You really want to work at something you enjoy,” said Buffett on Saturday’s shareholder meeting.
He also recommended that employees be “careful” where they work, as they can adopt the habits of their work colleagues. Buffett highlighted how this is more important than other issues, like a lower starting salary.
“If you find people who are wonderful to work with, that’s the place to go,” said Buffett in the meeting.
