I have been reading about a lot about Warren Buffet. At first when I started reading about him, was purely to learn about value investing but some articles about his life have taught me something far more enriching.
Thoughts, work, lifestyle and everything around really doesn't have to be complicated. There is a lot of charm in “keeping it simple”.
These words echo every day in my job (which is to simplify complex technology and explain the benefits to a common man in English) and am aiming towards them reflecting in my life and thoughts as well.
My husband told me about a man in his neighborhood in India who is extremely well to do, but still walks to the temple, wears the same white shirt, eats sitting cross legged and prefers Khichdi for meals. His lifestyle has been the same in the last 50 years. His dad always talks about how if you have Rs 100 or Rs 10,000, your lifestyle should be the same.
When I used to hear these things, I always wondered how is it possible?
Following are some very interesting aspects of Warren Buffet’s life, which he talked about in an interview: (Taken verbatim from an article on his interview)
# He bought his first share at age 11 and he now regrets that he started too late!
o Things were very cheap that time.
o Encourage your child to invest.
# He bought a small farm at age 14 with savings from delivering newspapers.
* One could have bought many things with little savings.
* Encourage your children to start some kind of business.
# 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. His house does not have a fence/wall.
* Don't buy more than what you "really need" and encourage your children to do and think the same.
# He drives his own car everywhere and does not have a driver or security people around him.
* You are what you are.
# He never travels by private jet although he owns the world's largest private jet company.
* Always think of how you can accomplish things economically.
# His company, Berkshire Hathaway owns 63 companies. He writes only one letter each year to the CEOs of this companies giving them goals for the year. He never holds meetings or calls them on a regular basis.
* Assign the right people to do the right jobs.
# He has given his CEOs only two rules:
1. Do not lose any of your shareholder's money.
2. Do not forget Rule #1.
* Set goals and make sure people focus on them.
# He does not socialize with the high society crowd, His past time after he gets home is to make himself some popcorn and watch TV.
* Don't try to show off. Just be yourself and do what you enjoy doing.
# Warren Buffet does not carry a cellphone nor does he have a computer on his desk.
# Bill Gates, the word'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 scheduled the meeting for only half an hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
His advice to young people:
* Stay away from credit cards (bank loans) and invest in yourself. Remember:
o Money doesn't create man but it is the man who creates money.
o Live your life as simply as you are.
o Don't do what others say. Just listen to them but do what you feel is good.
# Don't go for brand names. Just wear those things in which you feel comfortable.
# Don't waste your money on unnecessary things. Spend it on who is really in need rather.
# After all, it's your life. Why give other's the chance to rule our life.
The HAPPIEST people DO NOT necessarily have the BEST of all.
They simply APPRECIATE what they find on their way.
I found these extremely fascinating.
I have placed hold in the library for his biography “The Snowball: Warren Buffet and the Business of Life”………..can’t wait to read it.