“Honesty is a very expensive gift. Don’t expect it from cheap people.”

This statement suggests that integrity is a rare and valuable trait that requires a high level of character, which many individuals simply do not possess. It offers a psychological warning to be discerning in who you trust, suggesting that moral poverty often accompanies those who are superficial or untrustworthy. In modern business and relationships, this highlights the necessity of vetting partners and associates based on their history of truthfulness rather than their outward status. People share this today to express the frustration of being let down by others and to celebrate the value of genuine, transparent communication. Buffett has always prioritized integrity above intelligence and energy when hiring, believing that without the first, the other two will ruin a company. The takeaway is to value your own honesty as a premium asset and to be selective about the people you allow into your inner circle.