Warren Buffett understands business and investing inside and out. But he didn't learn everything he needed to know during his time in college — and he certainly doesn't think school is the only way to develop and refine your skills. "I don't think college is for everyone," Buffett told students of Ivey Business School at Western University in 2012. "The best education you can get is investing in yourself. But this doesn't always mean college or university."
In a clip found using CNBC's Warren Buffett Archive, an audience member at Berkshire Hathaway's Annual Shareholders meeting in 1995 asks if Buffett and his business partner Charlie Munger if they would ever consider starting their own business school to impart their knowledge to future generations. The pair scoffs at the idea.
"Generally speaking, I think we always get a group of wise people after sifting millions," Munger says. "But I don't think anybody's invented a way to teach so that everybody is wise."
Buffett cites his parents and his mentor Benjamin Graham as major influences on his success. "I think you can learn a lot from other people," he says. "In fact, I think, if you learn reasonably well from other people, you don't have to get any new ideas or do much on your own. You can just apply the best of what you see."
The Oracle of Omaha offers a few insights into how he learns, however. Here are two of this top methods.