Do not take yearly results too seriously. Instead, focus on four or five-year averages.
Focus alone is not enough; putting in the time to commit is also crucial to achieve success.
Focus on your customers and lead your people as though their lives depend on your success.
Focus on return on equity, not earnings per share.
Knowing what to leave out is just as important as knowing what to focus on.
With a wonderful business, you can figure out what will happen; you can't figure out when it will happen. You don't want to focus on when, you want to focus on what. If you're right about what, you don't have to worry about when
Charlie [Munger] and I are not big fans of resumes. Instead, we focus on brains, passion and integrity.
