warren buffet lessons

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Warren Buffet Life Of

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Page 1: Warren Buffet lessons

Warren BuffetLife Of

Page 2: Warren Buffet lessons

“I was wired at birth toallocate capital and

lucky enough to havepeople around me early

on – my parents and teachers and Susie [hislate wife] – who helpedme make the most of it.”

Page 3: Warren Buffet lessons

“Risk comes from not knowing what you’re doing.”

Page 4: Warren Buffet lessons

“There are all kinds of businesses that Charlie [Vice Chairman] and Idon't understand, but that doesn'tcause us to stay up at night.”

Page 5: Warren Buffet lessons

“It just means we go onto the next one…Never

invest in a business youcannot understand.”

Page 6: Warren Buffet lessons

“I will not abandon a previous approach whose logic I understand even though it maymean foregoing large, and apparently easy,

profits to embrace an approach which I don't fully understand, have not practiced

successfully, and which possibly could lead to substantial permanent loss of capital.”

Page 7: Warren Buffet lessons

“How many legs does a dog have if you call his tail a leg? Theanswer: Four, because calling a tail a leg does not make it a leg.”

Page 8: Warren Buffet lessons

“You ought to be able to explainwhy you’re taking the job you’retaking, why you’re making the investment you’re making, or

whatever it may be,”

Page 9: Warren Buffet lessons

“And if it can’t stand applying pencil to paper, you’d better thinkit through some more. And if you can’t write an intelligent

answer to those questions, don’t do it.”

Page 10: Warren Buffet lessons

Buffett never lost his senseof humor. Indeed, it became

one of his trademarks for which he is revered.

Page 11: Warren Buffet lessons

When his mathematics and investments were once challenged,Buffet shot back, saying, “There are three kinds of people in this

world: Those who can count, and those who can’t.”

Page 12: Warren Buffet lessons

“I am quite serious when I say

that I do not believe there are,on the whole earth besides, so

many intensified bores as in these United States.”

Page 13: Warren Buffet lessons

“No man can form an adequateidea of the real meaning of the

word, without coming here.”

Page 14: Warren Buffet lessons

Buffett nevertheless remainedentirely serious when it came to making money. “The first rule is not to lose,” he says. “The second

rule is not to forget the first rule.”

Page 15: Warren Buffet lessons

“It's not that I wantMoney, it's the fun ofmaking money and watching it grow.”

Page 16: Warren Buffet lessons

“We enjoy the process far more than the proceeds.”

Page 17: Warren Buffet lessons

“Somebody once said thatin looking for people to hire, you look for three

qualities: integrity, intelligence, and energy.”

Page 18: Warren Buffet lessons

“And if they don't have the first, the othertwo will kill you. You think about it; it's true.If you hire somebody without the first, you

really want them to be dumb and lazy.”

Page 19: Warren Buffet lessons

“We delegate almost to the pointof abdication.”

Page 20: Warren Buffet lessons

“Charlie and I mainlyattend to capital

allocation and thecare and feeding ofour key managers.”

Page 21: Warren Buffet lessons

“Most of these managers are happiest when they are left alone to run their businesses, and

that is customarily how we leave them.”

Page 22: Warren Buffet lessons

The only contact they have withBuffett is if and when hard timescome. “If there is any significant

bad news, let me know early.”

Page 23: Warren Buffet lessons

“We can afford to lose money – even a lot of money.”

Page 24: Warren Buffet lessons

“We cannot afford to losereputation – even a shredof reputation…It takes 20

years to build a reputation and five minutes to ruin it.”

Page 25: Warren Buffet lessons

“Look at the business yourun as if it were the only asset of your family, onethat must be operated forthe next 50 years and cannever be sold.”

Page 26: Warren Buffet lessons

“Working with peoplewho cause your stomach

to churn seems much likemarrying for money –

probably a bad idea underany circumstances, but

absolute madness if you are rich.”

Page 27: Warren Buffet lessons

Buffett was sending the message that he had

complete confidence in his staff. In turn, his staffrewarded him with hard

work and loyalty.

Page 28: Warren Buffet lessons

“You’re neither right nor wrong because other people agree with you.”

Page 29: Warren Buffet lessons

“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 your facts and

reasoning are right, you don’t have to worry about anybody else.”

Page 30: Warren Buffet lessons

“You do things when theopportunities come along.”

Page 31: Warren Buffet lessons

“If I get an idea next week, I'll dosomething. If not, I won't do a

damn thing…Much success canbe attributed to inactivity.”

Page 32: Warren Buffet lessons

“I don’t look to jumpover 7-foot bars: I lookaround for 1-foot bars

that I can step over.”

Page 33: Warren Buffet lessons

“One’s objective should be to get it right,get it quick, get it out, and get it over…your

problem won’t improve with age.”

Page 34: Warren Buffet lessons

“Should you find yourself ina chronically leaking boat,

energy devoted to changingvessels is likely to be more

productive than energydevoted to patching leaks.”

Page 35: Warren Buffet lessons

“The important thing is to keep playing, to play against weak opponents and to play for big stakes.”

Page 36: Warren Buffet lessons

“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.”

Page 37: Warren Buffet lessons

“All of you do a first-class job inrunning your operations with

your own individual styles

Page 38: Warren Buffet lessons

I've arranged my life so that I can do what I want.

Page 39: Warren Buffet lessons

“I get to do what I like to do every single day of the year.”

Page 40: Warren Buffet lessons

“I really like my life.”

Thank You Very MuchSompong Yusoontorn