Warren Buffett “The man of dollars”
1) While his elementary school classmates were dreaming about the major leagues and Hollywood, 10-year old Buffett was having lunch with a member of the New York Stock Exchange and setting life goals.
2) He bought his first stock at age 11.
3) When Buffett was a teen, he was already raking in about $175 a month — more than his teachers (and most adults).
4) He had amassed the equivalent of $53,000 by the time he was just 16.
5) He was rejected from Harvard Business School.
6) His idol refused to hire him the first time he applied.
7) Buffett spent $100 to take a Dale Carnegie course on public speaking.
8) His house is a humble five-bedroom in Omaha, Nebraska that he bought in 1956 for $31,500.
9) Buffett doesn’t keep a computer on his desk, and he chooses to use a flip phone rather than a smartphone.
10) In fact, he’s only sent one email in his life, to Jeff Raikes of Microsoft.
11) His distance from technology leaves him time for bridge, which he plays about 12 hours a week.
12) He spends 80% of his day reading.
13) He drinks an alarming amount of Coca-Cola each day.
14) 99% of Buffett’s wealth was earned after his 50th birthday.
15) Among investing legends, Buffett has the longest track record for beating the market.
16) $1,000 invested in Buffett’s Berkshire Hathaway stock in 1964, when Buffett took over the company and shares cost just $19, would be worth about $11.6 million dollars today.
17) Buffett’s net worth is greater than the GDP of Uruguay.
18) Buffett has so far donated enough money in his lifetime to build four Apple ‘Spaceship’ Campuses, which are $5 billion endeavors.
19) In 2013, Buffett made on average $37 million per DAY — that’s more than what Jennifer Lawrence made the entire year.
20) The multi-billionaire reportedly earns only $100,000 a year at Berkshire Hathaway — and spends it frugally
21) People are so fascinated with the legendary Buffett that they’ll spend millions of dollars to eat lunch with him.
22) He doesn’t think money equals success: ‘I measure success by how many people love me. And the best way to be loved is to be lovable.’
12 guidelines from Warren Buffett
1. Invest wisely.
Buffett chooses to invest in ideas, not the people behind them. He once famously said that he chooses companies that are so wonderful, even an idiot could run them, mentioning the likelihood that someday one will.
2. Don’t forget your roots.
When he was in high school, Buffett landed a job delivering papers for The Washington Post. He has extended that early job into a lifelong relationship with the newspaper, with his company serving as its largest shareholder.
3. Live below your means.
Despite a net worth of $39 billion, Buffett lives in a surprisingly modest home . He bought the Omaha, Nebraska, house for $31,500 in 1958 and today he calls it the best investment he ever made. Instead of risking bankruptcy by spending every dime he makes, Buffett has chosen to live frugally and reap the rewards.
4. Save first, spend second.
Many people save what is left over each month after paying bills and making purchases. Buffett recommends instead that you set a certain amount of money aside each month for savings, then spend the amount that is left.
5. Research your investments.
Buffett advises carefully researching stocks before putting money into them. After thorough research, an investor shouldn’t be afraid to invest generously in a stock that has proved to be a strong one.
6. Hone your speaking skills.
In the early days of his career, Buffett was terrified of public speaking. Recognizing that it would be necessary to achieving his goals, he enrolled in a renowned course taught by Dale Carnegie. Today, he regularly tells young entrepreneurs that the ability to communicate effectively is essential to success.
7. Protect your reputation.
Money comes and goes but damage to a person’s reputation is irreversible. Buffett emphasizes the importance of protecting the reputation of both yourself and your business.
8. Keep good company.
Parents frequently warn their children that they will be judged by the company they keep. He advises professionals to hang out with people who are better than they are, saying that by doing so, it will inspire them to be better.
9. Resist fads.
You won’t see Buffett investing in trendy stocks like social media sites and hot technology. While sites like Facebook may be hot today, Buffett’s issue is that there’s no way to know that they’ll be just as hot five years down the line.
10. Minimize meetings.
Instead of regular meetings, Buffett chooses to send a letter each year to each of his companies. The letter outlines his goals for the year and celebrates the past year’s successes. He avoids bogging his companies down with long meetings and unnecessary phone calls, instead letting his workers spend their time doing their jobs.
11. Don’t give up.
When Buffett purchased Berkshire Hathaway, it was a failing textile firm, specializing in lining for men’s suits. Buffett saw promise, however, noticing price patterns connected to the company’s mill closings. Through his leadership, the company was able to grow to a multinational conglomerate.
12. Enjoy your work.
Buffett has expressed disbelief at the fact that people take successive jobs they dislike to advance their careers. He believes life is too short and we should all spend our time and effort on work we love.
Warren Buffett serves as proof that when a professional has the right goals in place, he can accomplish anything. Through carefully researching his life, professionals can learn lessons that will help them as they build their own businesses and invest their earnings.