第二部分聚焦於巴菲特成立合伙企業之前的五年黃金打工期（1951–1956），梳理了他先後任職於巴菲特-福爾克公司（Buffett-Falk & Co.）與格雷厄姆-紐曼公司（Graham-Newman Corporation）的五年。這是他個人投資回報率最為驚人的時期（年化復合增長率約60%）。通過對蓋可保險（GEICO）、洛克伍德 (Rockwood) 及費城裡丁煤鐵公司 (Philadelphia and Reading Coal and Iron Corporation) 等八筆核心案例的復盤，揭示了巴菲特如何將“淨流動資產投資法”與“套利”手藝運用至極致。這段歷程不僅為巴菲特積累了“第一桶金”，更見證了他從一名定量的證券分析師向成熟資本配置者的華麗蛻變。
英文原文：I must have tried 20 different businesses by the time I got out of high school.
But it correlated business success with certain variables. And, you know, they tried grades in school, and they tried what your parents did, and they tried whether you went to business school, all those kind of things.
And they found it correlated best with the age at which you started your first business, got into business, that the younger you were when you did your first piece of business seemed to correlate best with later business success.
And to some extent, that’s sort of natural. It’s probably true that — that when you see it in athletics, you see it in music and that sort of thing.
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