10 Warren Buffett’s Secret I Am Stealing To Be A Millionaire 💰

0
135

10 Warren Buffett’s Secret I Am Stealing To Be A Millionaire 💰

A Hyper—Visual article…

-Advertisement-

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.”

Summary

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
Give Back

CONTRIBUTED BY Harsh Darji

Read More: 7 Life Lessons by Robert Greene You Should Tattoo on Your Brain

Read More: The 80/20 rule (You need to know this!)

We do everything possible to supply quality information for readers day in, day out and we are committed to keep doing this. Your kind donation will help our continuous research efforts.

LEAVE A REPLY

Please enter your comment!
Please enter your name here