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Wednesday, January 12, 2011

Learnings From the Life Of Warren Buffet | World`s Second Richest Man

This was all compiled from a one hour interview of Warren Buffet on CNBC

1) He Bought his first share at the age of 11 and he now regrets that he started too late.
   Things were very cheap at that time. So promote everyone to invest

2) He still lives in the small 3 Bedroom house in Omaha, that he bought after he got married 50 years ago. he says that he has everything he needs in the house and it has no fencing around.
  Dont buy more than what you "really need"

3) He does not have a driver and drives his car himself
   You are what you are

4) He never travels by private jet, although he owns the worlds largest private jet company.
  Always think how you can accomplish things easily.

5) His company Berkshire Hathaways owns 63 companies. He writes only one letter each year to his CEOs, giving them the goals for the year. He never holds meetings or calls on a regular basis.
 Assign the right people to the right job

6) He has given two rules to his CEOs
  Rule 1- Never loose your shareholder`s money
  Rule 2- Do not forget rule 1
    Make goals and make sure that people focus on them

And last the best one-

7) His  advice to the youth
    Stay away from credit cards(bank loans) and invest in yourself.
    a) Money doesnt create man but it is the man who created money
    b) Live your life as simple as you are
    c) Do not do what others say. Just listen to them and do whatever you like
    d) Dont go on brand name. Wear those things in which you are comfortable
    e) After all its your life and why give others a chance to rule it..

The HAPPIEST people do NOT necessarily have the BEST THINGS..
They simply APPRECIATE the things they have..
let us choose a smarter and simple way to live..

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