Warren Buffett has a lifetime of insight to offer shareholders found in his book, Gems From Warren Buffett, Wit and Wisdom from 34 Years of Letters to Shareholders, which discuss what stocks to pick. His gems are filled with humor as well as the enlightening wisdom that provides a great perspective into one of America’s top CEOs, Warren Buffett. 20% of book profits are donated to the GLIDE charity. Buffett is a frugal billionaire who has a lot of advice to offer his shareholders.
Buffett runs Berkshire with his longtime friend, Vice Chairman Charlie Munger, a brilliant chairman who takes good care of shareholders. In a 1993 letter, Buffett is quoted as saying “Our entire corporate overhead is less than half the size of our charitable contributions.” Buffett remarks in a 1990 letter that if he were to die tomorrow, he would sell his corporate jet the Indefensible. Wisdom from Buffett about his daily planner: he had nothing in it since he uses his time to learn and think. A quote by Buffett is “Invest as much as you can in yourself. You are your biggest asset so far.” Buffett spends his time reading besides not having many commitments in his day planner.
As far as protecting reputation goes, Buffett’s insight on this is the following “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” Protecting your good name is necessary for your survival. Reputation means a lot and if you do something wrong, you get people commenting on what you did. Buffett also remarks on how some billionaires have the jerk brought out of them because of their money. What is important to him is that people think well of him at his age, besides money.