10 Warren Buffett’s Secret I Am Stealing To Be A Millionaire 💰
A Hyper—Visual article…
Like everyone, I have heard of Warren Buffett, and I know him as a famous billionaire investor. But after watching his documentary — Becoming Warren Buffet, I have realized that he’s more than a legendary investor.
These are the 10 secrets that I am stealing from him.
1. Treat Yourself Well
You have only one mind and one body for the rest of your life. If you don’t take care of your mind and body now, by the time you’re 40 or 50, you’ll be like a car that can’t go anywhere.
2. Compound Interest Is The Eighth Wonder of the World
At 32, Warren Buffett was worth $1.4 M, and now 60 yrs later, he’s worth $114.4 Billion. Key — Be patient and let compounding run its magic.
3. Don’t Be Afraid To Reach Out
After being denied from Harvard, Warren reached out to Graham @ Columbia University. If he hadn’t reached out, Graham would have never entered Buffett’s life.
4. Communication is Key
Warren took a public speaking course by Dale Carnegie and values this as one of the best things he has ever done. He hangs the course certificate on his wall in his office, rather than his other various degrees.
5. Circle of Competence
Warren only invests in what he knows — his circle of competence. Any opportunity within the circle has a larger chance of success than anything outside the circle.
6. The Right Companion
Warren and Charlie Munger have worked together for 49 years. Together, they’ve built one of the most valuable companies in the world and have helped thousands of people.
7. Taking Time to Think
Warren enjoys just sitting and thinking. Many people would see this as totally unproductive but many of his best business solutions have come from periods of just sitting and thinking.
8. Reputation is a Fragile House
Warren says, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
9. Life Is a Game
Investing is a play for Warren. In his own words, “Look for the job you would take if you didn’t need a job.”
10. Give Back
Warren pledged to give away the majority of his wealth. To date, he has donated 4.1B shares of Berkshire Hathaway. He says, “If you get to my age in life and nobody thinks well of you, I don’t care how big your bank account is — your life is a disaster.”
Treat Yourself Well
Compound Interest Is The Eighth Wonder of the World
Don’t Be Afraid To Reach Out
Communication is Key
Circle of Competence
The Right Companion
Take Time to Think
Reputation is a Fragile House
Life Is a Game
CONTRIBUTED BY Harsh Darji
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