Last updated : 2020-02-04
Don't get hung up on mistakes. Tomorrow is another day, go for the next thing.
Don't sleep walk through life.
Paint what you want. You got the brush and canvas is unlimited.
Be in a good environment and friends.
Defining your circle of competence is the most important thing in investing. Understand the economic characteristics of a business.
"I'm no genius. I'm smart in spots—but I stay around those spots."
—— Tom Watson Sr., Founder of IBM
Assigning yourself right story and go write the story.
Public speaking & Bring the best out of people are good talents need to have.
Need to have emotional stability
Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don't have the first, the other two will kill you. You think about it; it's true. If you hire somebody without integrity, you really want them to be dumb and lazy.
If you were to closely follow a company, you shouldn't own it. If you buy a farm, do you go and look every couple of weeks and see how far the corn is up and you know you worry too much about whether somebody says this is a year of low prices and exports are being affected. You buy a farm and you hold it, i bought 1 farm, my son runs it but i have been there only once. It doesn't grow faster, if i go and stare at it and i can't cheer for it.
On buyback: We buy BRK shares when we have lots of excess cash and all needs of business are taken care. First would love to find other business to buy but if our stock is selling below intrinsic value, we buy our stock.
Learn to communicate better both in writing and person you can increase in value in 50%
Invest in yourself nobody can take it from you
You get one body and mind in this world start to take care of it now
Associate with people who are better than you, basically you go in direction of people who you associate with.
Be wise in choosing who you admire and who you copy, it's also important whom you choose to be partner in business and life. You want to pick a spouse little bit better than who you are and hope they don't figure it out too fast.
Greatest satisfaction is good health
When you buy a share or business think like what will come out of this business, when and how sure are you ?
A bird in the hand is two in the bush. Question is how sure are you there is two in the bush and howling you have to wait to get them out. This is 600BC that's all there to investing.