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  But during his long tenure Buffett has had plenty of sensible things to say about how to invest well and live a good life through the work you choose and the way you treat people.
  
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  Don’t lose money
  “The first rule in investment is don’t lose. And the second rule in investment is don’t forget the first rule.”
  
  
  Buffett is best known as a value investor – someone who buys companies he believes are undervalued. “If you buy things for far below what they’re worth and you buy a group of them, you basically don’t lose money,” he explained on Adam Smith’s Money World.
  
  
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  It also means investing across asset classes. “They all have different risk profiles and, when combined, allow you to hold investments for the long term because you will experience less volatility,” Kearns said.
  
  Warren Buffett greets shareholders during Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska, in 2008.
  Warren Buffett's life in pictures
  42 photos
  Warren Buffett greets shareholders during Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska, on May 3, 2008. Carlos Barria/Reuters
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