Buffett’s annual letter to shareholders of Berkshire Hathaway is always something to look forward to. A lot of people dig deep into it looking for investing tips, ideas on who might succeed him and wisdom regarding life and business. In 2015, the 50th edition of that letter came out and it was filled with information on the history of conglomerates, and even fun stuff like how to get the giant root beer float for dessert at Piccolo’s.

Known as the Wizard of Omaha, the Oracle of Omaha or the Sage of Omaha, Buffett isn’t scared to share his insights with those who want to learn from his perspective on management and leadership. Here are some little snippets of wisdom from the annual letter to shareholders:

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