notes

Braulio 2022-04-24 07:01:25

1. Like numbers

2. Love to read

3. Thoughts determine destiny, I longed for money when I was very young, and tried to make money

4. Use newspapers with multiple stock market disasters to warn yourself, panic should be careful at all times

5. He read a lot of books in his father's office when he was very young

6. His mother is good at communication, good at mathematics, and has strong mental arithmetic ability

7. Became a shareholder of at&t at the age of 13 and shorted

8. Father leads by example and gives him a lot of encouragement

9. When I was in college, I always had the best grades. I hope to get out of school and enter the society as soon as possible, so I study hard.

10. Mentor, Ben Graham

11. Graham taught never to lose money

12. When you graduate from college, your business skills are already very good

13. Met his wife Susie (Northwestern University), who is empathetic, and Buffett speaks differently from ordinary people

14. Be afraid of speeches, go to Carnegie training, do some crazy things, let yourself go, practice training for n weeks, there will be rewards every week

15. Proposal, Susie 19, Buffett 21

16. I rented a house first, and then I bought a house after making money.

17. The wife takes care of the children full-time, and the wife agrees with him

18. Circle of competence, choose the time to swing the ball, even if someone next to you is urging you, don't move.

19. In the early stage, I mainly bought at a cheap price (seeking for wealth and insurance), and picked undervalued stocks

20. Accept Charlie Munger's fair price to buy proper company later

21. For a moat, what you buy is not stocks, but products, but also brands, business models, and values.

22, focus, work hard don't like to do boring things

23. Likes to sit down and think, usually stay upstairs at home to read

24. The most important thing to make money is timing, you don't have to be smart, but you have to be patient

25. A person's good reputation really helps in life

26. Compounding is important

27, over the years. I've learned a better understanding of human nature.

I can learn o lot about investments out of a book.

But I don't think you can learn as much about human beings

You really need some experiences

28. Don’t waste your energy, time and love on something useless

29. Life is like a movie. It's very short. Find a job you like, even if you don't have a salary, you are willing to do it.

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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.