No one gets another shot at life, but imagining what you might do with one can be a useful thought exercise. It’s even more enlightening when the person doing it has already been hugely successful the first time around — like, $82 billion successful.

In a 1998 lecture to University of Florida MBA students, business magnate Warren Buffett, CEO of Berkshire Hathaway, fielded a host of questions on investments and valuations before a thoughtful student asked, “What would you do to live a happier life if you could live over again?”

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