Warren Buffett Advice: Quotes From The Billionaire And Wisdom Given To Brooks Running CEO Jim Weber

Brooks Running CEO Jim Weber recalled the best advice he had received from Warren Buffett during his time working for the famed billionaire in an interview with CNBC published Tuesday.

“It sounds cliche, but this long-term thinking about really building a brand of strength is what makes Berkshire so unique, and him so unique,” Weber said. “You can measure brand strength and you can track business results, and they're not always in sync. We all like growth, and bigger businesses are more valuable than smaller ones, but the key is, the brand has to be stronger at the end of the year than at the beginning. And Warren means it. He really means it.”

Weber’s company became a part of Warren’s Berkshire Hathaway family in 2006 when Brooks Running’s then-parent company Russell Athletic was acquired by the Omaha-based company. It was separated into its own business unit in 2012 and Weber reports directly to Buffett now.

Weber said that he’s been a longtime fan of Buffett and has been reading about him for years. The chance to work with him was a dream come true.

Here are some other memorable quotes from Buffett.

“Someone is sitting in the shade today because someone planted a tree a long time ago.”

“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.”

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

“Price is what you pay. Value is what you get.”

“Risk comes from not knowing what you’re doing.”

“When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.”

“In the business world, the rear view mirror is always clearer than the windshield.”

“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”