Investor's Insight: How Buffett Created an Empire
Investor's Insight: How Buffett Created an Empire
He is the second richest man in the world and arguably the most successful American investor in history. Although Buffett has not strayed far from his Nebraska upbringings, his career has soared for over 50 years. How did this once shy boy who took a Dale Carnegie course on public speaking rise to become the stock market guru that he is today?
Brutal Honesty: “Wide diversification is only required when investors do not understand what they are doing,” says Buffett. He admitted to himself his strengths and weaknesses, both in terms of skills and knowledge, and made his business decisions accordingly. He was not ashamed to stick to what he knew best – what he called his “circle of competence” – and indeed, by doing so, was able to master the market.
Sense of Humour: “The only time to buy these is on a day with no ‘y’ in it,” Buffett once said of the stock market. Whether he was quoting Mae West for investment advice or poking fun of his own shortcomings, Buffett maintained his wit and enjoyed showing it off. He was serious when it came to his business, to be sure, but no one was going to tell Buffett that he couldn’t have some laughs at the same time.
Modesty: Buffett hated waste and excess and throughout his career strived to set an example of a more economical corporate America. Except for the fact that he was worth billions of dollars, Buffett was just like every other American. He lived in a modest house, drove a modest car and ate at McDonald’s. He prized the value of a dollar and strove to incorporate that message from his company on down to his children. Buffett wasn’t in it for the money.
Respect: “All of you do a first-class job in running your operations with your own individual styles,” Buffet told his managers. “We are going to keep it that way. You can talk to me about what is going on as little or as much as you wish.” He understood the importance of having good people around him and treated them with the respect they deserved. It was this kind of consideration that Buffett paid to not only his staff, but also to his shareholders and the media.
Instinct: “We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely,” says Buffett. “All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.” The media called him conservative, Wall Street said he was out of touch with the times, but Buffett followed his instincts to guide his business decisions and it paid off.
“I really like my life,” says Buffett. “I've arranged my life so that I can do what I want.” Buffett continues to go to work everyday as Chairman and CEO of Berkshire Hathaway, of which he still owns 40%. And, he will continue to do so until his board ousts him “from my decay, particularly if this decay is accompanied by my delusional thinking that I am reaching new peaks of managerial brilliance.” But, for now, Buffett says he is feeling “terrific”.
Investors Insight How Buffett Created an Empire
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“I get to do what I like to do every single day of the year,” says Buffett. “I tap dance to work, and when I get there, I think I’m supposed to lie on my back and paint the ceiling. It’s tremendous fun.”
He is the second richest man in the world and arguably the most successful American investor in history. Although Buffett has not strayed far from his Nebraska upbringings, his career has soared for over 50 years. How did this once shy boy who took a Dale Carnegie course on public speaking rise to become the stock market guru that he is today?
Brutal Honesty: “Wide diversification is only required when investors do not understand what they are doing,” says Buffett. He admitted to himself his strengths and weaknesses, both in terms of skills and knowledge, and made his business decisions accordingly. He was not ashamed to stick to what he knew best – what he called his “circle of competence” – and indeed, by doing so, was able to master the market.
Sense of Humour: “The only time to buy these is on a day with no ‘y’ in it,” Buffett once said of the stock market. Whether he was quoting Mae West for investment advice or poking fun of his own shortcomings, Buffett maintained his wit and enjoyed showing it off. He was serious when it came to his business, to be sure, but no one was going to tell Buffett that he couldn’t have some laughs at the same time.
Modesty: Buffett hated waste and excess and throughout his career strived to set an example of a more economical corporate America. Except for the fact that he was worth billions of dollars, Buffett was just like every other American. He lived in a modest house, drove a modest car and ate at McDonald’s. He prized the value of a dollar and strove to incorporate that message from his company on down to his children. Buffett wasn’t in it for the money.
Respect: “All of you do a first-class job in running your operations with your own individual styles,” Buffet told his managers. “We are going to keep it that way. You can talk to me about what is going on as little or as much as you wish.” He understood the importance of having good people around him and treated them with the respect they deserved. It was this kind of consideration that Buffett paid to not only his staff, but also to his shareholders and the media.
Instinct: “We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely,” says Buffett. “All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.” The media called him conservative, Wall Street said he was out of touch with the times, but Buffett followed his instincts to guide his business decisions and it paid off.
“I really like my life,” says Buffett. “I've arranged my life so that I can do what I want.” Buffett continues to go to work everyday as Chairman and CEO of Berkshire Hathaway, of which he still owns 40%. And, he will continue to do so until his board ousts him “from my decay, particularly if this decay is accompanied by my delusional thinking that I am reaching new peaks of managerial brilliance.” But, for now, Buffett says he is feeling “terrific”.
Investors Insight How Buffett Created an Empire
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 The Oracle of Omaha: Warren Buffett is Born
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 “I always knew I was going to be rich,” says Buffett. “I don’t think I ever doubted it for a minute.” |
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Lesson #5: Stick To Your Guns
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| “You’re neither right nor wrong because other people agree with you,” says Buffett. “You’re right because your facts are right and your reasoning is right – and that’s the only thing that makes you right. And if you... |
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Investor\'s Insight: How Buffett Created an Empire
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| “I get to do what I like to do every single day of the year,” says Buffett. “I tap dance to work, and when I get there, I think I’m supposed to lie on my back and paint the ceiling. It’s tremendous fun.” |
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Lesson #2: Keep Your Wits About You
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| In 1974, when Forbes asked Buffett how he felt about the stock market at the time, Buffett replied, “Like an oversexed guy in a whorehouse.” Whether it was talking to the media about smart investments or explaining ... |
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Lesson #3: Enjoy The Process
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| “It's not that I want money,” says Buffett. “It's the fun of making money and watching it grow.” |
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Dr. John OdaJohn Oda Ph.D NLP is a business peak performance expert, an author, and speaker frequently called upon to provide corporate training, workshops and seminars for many companies in the United States. He is an expert in coaching sales and business professionals in overcoming the behaviors and obstacles that may impede their sales results and affect their bottom line. Since 1995, John has created a speaking bureau such topics, which include: time management, sales training, human diversity, leadership programs and etc. He provides companies with a strategic plan to increase their bottom line by over 25 percent yearly. - Visit Dr. John Oda's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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