1947年,巴菲特進入賓夕法尼亞大學的沃顿商学院,後來轉到內布拉斯加大学林肯分校(University of Nebraska - Lincoln)並在19歲取得商業管理學士學位。
While Buffett was at Wharton, he often complained that he knew a lot more than his teachers. After two years in Pennsylvania he decided to transfer to the University of Nebraska. Talking about his college transfer, Buffett once said, "After two years at the Wharton School at the University of Pennsylvania, I transferred here [University of Nebraska] and I must say that I thought that my year here was considerably superior to either of the years I'd had at Wharton. I got a lot of education." He further added, "The teachers at the University [of Nebraska] turned me on. There wasn't a class that disappointed me. I was close to my professors, who actually taught the classes, at my previous undergraduate college, graduate students taught the classes."