Talent (sensitivity to numbers, money) + luck (getting the best love and character from dad, life partner Suzy, mentor Graham, good friend and soulmate Charlie Munger) + persistent learning = Warren Buffett
86-year-old Buffett is sitting on the podium in a classroom. There are about a dozen junior high school students in the classroom. Buffett, who looks like an old grandpa next door, uses a girl and a car to lead out that we have only one in our life. Yes - body and brain, but unlike the 86-year-old grandpa next door, you can feel the energy and wisdom in his speech, the energy is comparable to that of a teenager.
"You don't have only one car in your life, but you only have one body and brain, and that's all you have. The body and brain feel good now, but it's with you for the rest of your life."
You know that although this person has a complete theoretical system of his own, he is still thinking.
The first few numbers shocked me. 5, 54, 2.61/2.95/3.17; 5-minute drive from home to the company, he has traveled this road for 54 years, and the last set of numbers is the daily breakfast money of this man worth more than 60 billion: he thinks the market When it's not that prosperous, eat the $2.61 McDonald's meal; if the stock falls that day, don't want to eat the $3.17 double bacon, but switch to the $2.95 one.
God, when I saw this, I thought of the word "self-discipline". Maybe people who are self-disciplined never feel self-discipline. People who can walk on the same road for 54 years, people who can eat a set meal for 54 years, think Think about it. What surprised me even more was his concept of money: numbers.
At a time when he is worth more than 60 billion, he still eats breakfast for $2.95.
"i like numbers" He started compounding interest when he was 7 years old.
He read a lot of books from a very young age.
He quickly finished reading all the books in his father's office.
When the three brothers and sisters ran away from home and were taken by patrol officers on the highway, his father never blamed them for it, he just said, "You know, you can do better than this"
"He's very good-natured and quiet, who would have noticed that he was a genius?"
"My dad doesn't care about money, he believes in having a set of internal evaluation cards, no matter what others say, as long as you know what you're doing and do what you're doing, it's enough. I learned a lot from my dad, he Instead of telling me directly, he would give examples. He had unlimited confidence in me, even when I screwed up.
The best gift I have ever received in my life is that I was born with such a father. "
"We are born to understand the truth that all people are born equal"
Two investment principles Buffett learned from Graham: 1. Don't lose money; 2. Always remember the first rule.
Hearing him say, "There were two turning points in my life, one was when I came out of the womb, and the other was when I met Suzy. She was the girl", I was moved to tears. "When we got married, she was 19 years old and I was 21 years old", God, I really cried when I saw this scene, I felt blessed and lucky for them to meet each other.
Suzy said of Buffett, "He has a heart of gold."
When the child was older, Susie would take him to Martin Luther King Jr.'s street speeches, which became the most inspiring speeches he had ever heard, "He spoke the truth on the gallows, the king was forever, but The gallows will shake the future."
"My children have a normal heart, like their mother, which makes me very happy"
"The trick of investing is to sit there and watch the field and wait will make us profitable" "A lot of people say swing the ball, you're stupid. Ignore them. In the stock market, there is a temptation to make people do it so often just because they It's too easy to change. Years later you develop a kind of filter, and I know what I mean by circle of competence, so I stay in that circle and I don't worry about things outside that circle."
"It's very important to be clear about what you're playing and where you have an advantage"
"One of the reasons for Warren's success is that he's always been very cruel about his past, and he wants to identify wrong ideas and avoid them in the future."
"If you invest with emotion, you don't do it well. You can have emotions about stocks, and stocks don't have emotions with you. That decision was made five days after my father died, and I didn't know that Did it affect me?"
"(Warren) he loves his father, but he doesn't want to be a believer in anything"
Warren and Susie's discussion on human rights, on "women, will realize that they are slaves of the world", it seems that the inequality of development opportunities between men and women is not just a problem in China, it is a problem all over the world, But Warren is really optimistic, isn't he?" But you look at it from another angle, he has a very positive and exciting meaning, which means that the United States only uses half of its talents, and the future of the United States has unlimited potential , I'm bullish on America's future. Part of the reason is that we, for some reason, have half of our talent on the sidelines"
[Actually, during the recent long-term investment study, I found that female students far outnumber male students, and there are many other aspects of life that make me feel that women are generally stronger, braver and more courageous than men. Most men can't accept women who are more decisive than themselves, so women take into account the big problem of the continuation of human beings, so they secretly hide their abilities and fully protect the poor self-esteem of men. But does this prove once again that women are more capable of forbearance? 】
①I will look for a company with a moat around it. "You're not buying an asset, you're buying a name, a brand, you're buying the real right to operate here. Charlie (Munger) is more responsible than anyone else in this." (Charlie) He is very Smart, he has a broader understanding than I do, and he's very good at condensing very important ideas into a few words"
Charlie Munger: "If you're not interested in economic production right now, you're dead inside." "We never fight, we just...just swing together. We all know we have our own moral standards, so we To do well. Warren is not interested in cheating people to make money.”
“I know what game Wall Street is playing, but I don’t want to get involved. My business fits me and I work with a group of people who make my life easy and take good care of me. We have 25 people in our company, we don’t Any committees, no PR department, no investor relations, no general council, no HR department, no formality, that's the life I love. No burden for me, basically just entertainment. "
"I like quiet. I close the door in my office because I don't want to hear anyone talking outside."
"I like to sit down and think quietly. I spend a lot of time doing this, and sometimes it's useless, but when I consider investment and business issues, I really enjoy and am happy. Business problems are simple, human problems are complicated, and there are There are no good answers to people's questions, but there are always good answers to money."
"I still read 5-6 hours a day."
"Bill's father asked me and Bill to write down the words that had the greatest impact on us, and we both wrote "focus" at the same time. Focus is a very important part of my personality. If I am interested in something, I get really interested. If I get interested in a new topic, I want to read about it, I want to discuss it, and I want to meet people who are involved in it."
Susie: "Being physically close to Warren doesn't mean you're close to him. You see, he's sober, and it reminds me that I have to have my own business. We're two parallel lines, but he's open. when we are connected"
Warren: "The biggest mistake is not understanding people the way you should. She (Susie) left Omaha in 1977, and that's not much to say, but..."
Susie: "I didn't leave you, because you need me to be alive and dead."
Charlie: "Warren is getting richer and richer, but at that time more and more people started criticizing him, some of them were sharp, but he didn't say anything"
Warren: "The most important thing in making money is time. You don't have to be very smart, you have to be patient."
Charlie: "We started with cash and ended up buying some businesses, including insurance companies"
"he look around, and he said, this is your city. I'm drawn to color, light, looks and nature, and he thinks San Francisco is a good place for me."
"I have a good understanding of human nature, I can learn a lot about investing from a book, but I don't think you can learn a lot about human beings, you need some experience, I'm better than four in this Fifty years ago, I was smarter." [Actually, it is precisely because you never focus on these things that you have achieved so much success in the field you are good at]
Warren: "Susie and I, we respect and adore each other, we do a lot of things together, we do things in sync, but we're two different individuals. Love is a weird thing, you can't control it , if you have love for people you will get more love, if you hold on, you will lose. Suzy, who shaped me, she believed in me, she shaped me, if in the absence of her Next, I'm not going to be what I want to be, at least I'm not going to be successful in my career, she made me a whole person."
"In my lifetime, I spend less than 1% of what I earn, and the remaining 99%+ will go to someone else because it doesn't work for me"
"I'm lucky to be in my position, in 1930 when I was born, the birth ratio was 40:1, I won the ovarian lottery on day one, plus I'm a male, and half and half, I The most male-born ratio in the U.S. is 80:1, and that's been pretty significant throughout my life."
"The world is a very interesting movie, but you don't want to sleepwalk all your life, the important thing is to find a career, if you don't do your career, life is still colorful, you sit up in bed in the morning, yes Because you look forward to this day, I have tap danced to work for 60 years because I do what I love and I feel very lucky."
"My body is almost useless, but it doesn't interfere with my thinking, it doesn't interfere with my work, it doesn't interfere with my feeling of happiness. My feelings and enthusiasm for happiness have not diminished, in fact, in a sense, what I have The games here are getting more and more interesting. It's a competitive game, it's a big game, and I'm enjoying it."
After reading Buffett's story, I was thinking, whether it's wealth or personality, even if we can't be like Buffett, if we work hard towards this goal, we must be great people in the end.
PS: I think no matter what kind of people we will become, family affection and love cannot be ignored. I always believe that loving and being loved are the most important and the most beautiful things in the world.
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