over the rainbow

Mathilde 2022-03-10 08:01:51

You can only have one body and one brain in your life, and they will accompany you throughout your life, so learning to maintain them is a prerequisite for us to accomplish other great things.

What events or choices have had a major impact on Buffett's life?

1. A lot of reading.

Started studying stocks as a teenager, from technical analysis to fundamental analysis, he has benefited greatly from extensive, constant reading.

Graham's "The Intelligent Investor" and Fisher's "How to Pick Growth Stocks" led him to form his own investing system.

As long as you read, good things will happen in the end.

Second, the choice of friends.

Integrity and kindness are qualities that he admires very much, and he has made many like-minded friends because of this. Among them, Charlie Munger became his lifelong friend and business partner.

Friends make you a better version of yourself.

3. Family and marriage.

His father's influence on him, Suzy's influence on him. Inherit your father's good character, and surpass him, and avoid becoming a utopian.

4. Sign up for the Carnegie Eloquence Class.

Buffett said in particular the special significance of enrolling in Carnegie's eloquence class. If I hadn't signed up for the eloquence class, I wouldn't have achieved so much now. The diploma from the eloquence class is even more useful than the college certificate he got.

"If I don't change, I'll never change"

About investment

One, avoid losses.

Second, always remember the first rule.

Patience is the greatest virtue, think backwards, look for companies with moats, and always operate at the center of the circle of competence.

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Extended Reading

Becoming Warren Buffett quotes

  • Howard Buffett: When he wrote the letter to us, he put something in that letter that was incredibly important to me, which was exactly how our foundation behaves, which is, if you're gonna try to bat a thousand, you won't do very many things that are important. But if you're willing to basically strike out a few times, you can really change something big.

  • Warren Buffett: In my entire lifetime, everything that I've spent will be quite a bit less than one percent of everything I've made. The other 99% plus will go to others, because it has no utility to me.