Technology and Business Law Blog

Warren Buffet’s Advice

Here is the link to the advice apparently given by the world’s greatest investment wizard: Warren Buffet, http://blogs.siliconindia.com/ParagKaria/45Il06yq45823144. It is some wise and sound advice, but what  about enjoying some of the money too, after all money is only a medium of exchange and a form of energy.

There was a one hour interview on CNBC recently with Warren Buffet, the second richest man who has donated $31 billion to charity. Here are some very interesting aspects of his life:

1. He bought his first share aged 11, and he now regrets that he started too late!

2.. He bought a small farm aged 14, with savings from delivering newspapers.


3.. He still lives in the same small 3-bedroom house in mid-town Omaha that he bought after he got married 50 years ago. He says that he has everything he needs in that house. Out side of His house does not have a wall or a fence.


4
. He drives his own car, everywhere and does not have a driver or security people around him.

5. He never travels by private jet, although he owns the world’s largest private jet company.

6.. His company,” Berkshire Hathaway”, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis. He has given his CEO’s only two rules.

Rule number 1:” Do not lose any of your shareholder’s money”.

Rule number 2:” Do not forget-The rule number 1″.


7. He does not socialize with the high society crowd. His pass time after he gets home is to make himself some pop corn and watch TV.


8. Bill Gates, the world’s richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for “half hour”.
But when Gates met him, the meeting lasted for “Ten hours” and Bill Gates became a devotee of Warren Buffet.

9. Warren Buffet does not carry a ‘cell phone’, nor has a computer on his desk.

His advice to young people:

“Stay away from credit cards and invest in yourself and Remember:


A. Money doesn’t create a man; it is the Man who created money.

B. Live your life as simple as you are.

C. Don’t do what others say, just listen to them.

But,” Do what you feel good.”

D. Don’t go for a brand name; just wear those things in which you feel comfortable.


E. Don’t waste your money on unnecessary things; Just
spend on “Those who really are in need”.

F. After all it’s your life…, so why give the chance to others to rule your life.”

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May 2, 2008 - Posted by | Uncategorized

1 Comment »

  1. Warren Buffet is now the richest man in the world!! I admire his life’s philosophies and his success. As a 19 year old I still find his approach to life not only relevant but inspiring

    Comment by Stephanie Masher | May 31, 2008 | Reply


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