Warren Edward Buffett is an American investor, business magnate, and philanthropist, who is the chairman and CEO of Berkshire Hathaway. He is one of the known personality to have earned money by dealing in stocks. He is also known as the oracle of Omaha and is 7th richest person in the world. Here are a few lessons you must learn from him.
· Warren buffet often speaks about it, wherein he says that you must always invest in yourself. He actually did it, he knew he would require a lot of convincing power which means he needs good communication skills and therefore he joined public speaking classes. According to him, you must invest time and money to improve yourself be it sleeping enough, exercising or taking care of yourself, you must do it all.
· He believes in staying out of trouble than getting out of trouble because the former is much easier. He has often said that as an investor you must say no more often than saying yes. Saying no will keep you away from the trouble and of course you need to have an understanding of what can cause trouble.
· He once said on an interview that, “It’s insane to risk what you have and need for something you don’t really need. … You will not be way happier if you double your net worth.” By which he means there’s no point in borrowing money and investing especially in such risky assets, he says it’s not a good idea.
· A few years back he said “I can’t buy time, I can’t buy love but I can do anything else with money, pretty much. And why do I get up every day and jump out of bed and I’m excited at 88? It’s because I love what I do and love the people I do it with.” What we can learn from him is happiness is choice and if you love what you do you’ll always be passionate about your work no matter how old are you.
· Buffet is said to be living the same old life. He still lives in the same house he bought in the 50s and still eats in McDonald’s. He knows the risk of his business and has not put himself in the habit of staying a lavish life, staying a simple life and fulfilling basic necessities keeps him ready for any ups and downs in his life.
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