Lessons From Warren Buffet

Photo by Ngoc Nhan

CNBC held a one hour interview with Warren Buffet, the richest man in the world today who has donated up to $31 billions to social activities. Let’s look into some interesting aspects of his way of life revealed in that interview :

1. He bought his first investment share at the age of eleven, but he said it was actually too late for he should have done that at earlier age.
TEACH YOUR CHILDREN TO MAKE INVESTMENT AT THE EARLIEST AGE POSSIBLE.

2. He bought a small field at the age of fourteen using the money he earned from delivering newspapers.
SMALL SAVINGS CAN ALWAYS BUY SOMETHING.
TEACH YOUR CHILDREN TO START UP SOME BUSINESS HOWEVER SMALL IT IS.

3. He still lives in his small house of three rooms where he has been living since his marriage fifty years ago. He said : “I have everything I need in that house.”
DON’T BUY ANYTHING YOU DON’T REALLY NEED, TEACH THIS TO YOUR CHILDREN.

4. He always drives his car himself wherever he hoes. He manages with no driver nor bodyguard.
BE YOUR OWN SELF, BE INDEPENDENT.

5. He never travels in his private jet although he owns the world’s biggest jet airliner company.
ALWAYS THINK THAT WHAT YOU HAVE IS ENOUGH.

6. His company, Berkshire Hathaway, has 63 affiliated companies. Every year he sends only one written message to each of his CEO, informing them the annual target of the year. He never holds any meeting nor summons them.
PUT THE RIGHT MAN IN THE RIGHT PLACE.

7. He only sets two rules for his CEOs :
1. Don’t waste the shareholder’s money
2. Don’t forget rule number 1
SET UP A TARGET AND MAKE THEM FOCUS ON THAT.

8. He doesn’t attach himself to any high society. He spends his time at home eating popcorns and watching TV.
DON’T TRY TO SHOWOFF, BE YOUR SIMPLE SELF.

9. Warren Buffet carries no cellular phone and has no computer on his table.

10. Five years ago Bill Gates who ranks first among the richest, made appointment to see Warren Buffet. Instead of thirty minutes he allocated for the meeting, Bill Gates ended up spending ten hours to learn how to become someone like Warren Buffet.

He has this advice for young men :
Keep yourself away from bank credits or credit cards, and invest only what you have. And bear this in mind :

A. Money doesn’t make people, it is people that makes money.
B. Live a simple life of your ownself.
C. Don’t do whatever people tell you. Listen to them but do only what is good.
D. Don’t wear trade marks, wear what makes you really comfortable.
E. Don’t waste your money on something that’s not really important.
F. If it works successfully in your life, share and teach other people.

A Happy person is not someone who is great in all things, but someone who can find simplicity in life.

Choose wisely your way of life!