It won’t be an exaggeration if we say that Warren Buffet’s name is practically considered as a synonym of success. He always had this tint of being triumphant, clearly. He had had a net worth of about $6,000 at the age of 15 itself with his current net worth being whopping $73.3bn as of 2017(Source: Wikipedia)- 4th richest in the world. Warren Edward Buffet is an American business magnate, investor and philanthropist.
Buffet’s investment philosophy
Warren’s Buffet’s writings include his annual reports of what has he earned and gained in that year. Additionally, he is considered as a great story-teller as evidenced by his annual letters and reports to shareholders.
In his Novemeber 1999 Fortune article, he warned of investor’s unrealistic expecations-
“Let me summarize what I’ve been saying about the stock market: I think it’s very hard to come up with a persuasive case that equities will over the next 17 years perform anything like—anything like—they’ve performed in the past 17. If I had to pick the most probable return, from appreciation and dividends combined, that investors in aggregate—repeat, aggregate—would earn a world of constant interest rates, 2% inflation, and those ever hurtful frictional costs, it would be 6%!”
Warren Buffet says, “The first rule of investing is don’t lose money; the second rule is don’t forget Rule No. 1.”
Warren Buffet is NOT your typical billionaire; With a net worth of $70+ bn, Buffet lives a modest style.
Trying to save money, pay off debt and make the most of your money? Well, here are some traits of Warren Buffet’s for you to get inspired!
• Buffet lives in the same house he bought in 1957
Billionaires live in mansion, right? Not Warren Buffet. He lives in the same residence he bought in 1958 for $31,500, which is now equivalent to $2,7,000. If you want to live like Buffet, consider buying less than you can afford.
• Buffet starts his day with a cheap breakfast
No, not necessarily you need to have a personal chef who serves you hot what you crave for! Buffett’s travel breakfast might consist of a pack of Oreos, his friend Bill Gates — yes, his good buddy is the Microsoft founder — wrote on his blog.
Source- getty images (google)
• Buffet drives the same car for years
What in your opinion Buffet drives? Some multi-million dollar car? No! He reportedly bought a new Cadillas XTS in 2014.
• Buffet enjoy affordable hobbies
Even Buffet has some hobbies. To have a life like Buffet doesn’t mean all work and no play. Compared to the CEOs of other companies and entrepreneurs, Mr Buffet has quite affordable hobbies. He likes playing Bridge.
“I one time said that I wouldn’t mind going to jail if I had the right three cellmates so we can play bridge all the time,” he said in the interview.
People like Warren Buffet are not the discrete ones. Rather, all it needs is to have focus on what you are doing and to believe in yourself. You could say that people like him exist only once in a blue moon, but that ‘him’ could be you either, so don’t give up come what may!