8 Timeless Life Lessons from Warren Buffett

I recently read Warren Buffett’s Ground Rules. It’s a book about Warren Buffett’s investing principles in his partnership years (1956 – 1970), the years before Berkshire Hathaway. The idea of the book is that he managed a relatively small sum back then so the principles are more applicable to individual investors. The book is an investing book, but also I learned life lessons from it. Here are eight timeless life lessons from Warren Buffett that can help you get ahead in life: 1. Invest in Your Knowledge While reading the book, I was impressed by the depth of Buffett’s investing knowledge. He was only 25 years old when he began! Now I understand why he became the only student of his mentor, Benjamin Graham, who ever got an A+. How could he have such depth of knowledge? The answer is that he invested in it. He spent a lot of his time daily on reading. The lesson here is clear: you should invest in your knowledge. Knowledge is power and having a knowledge advantage will put you ahead in life. 2. Do Your Homework In the world of investing as in other areas of life, many people do things without really knowing what they are doing. They just blindly follow the crowd or some “experts”. Not Buffett. He always knew what he was doing. Why? Because he had done his homework. Before making an investment decision, he spent countless hours researching and analyzing the facts. In fact, he was so immersed in it that he could recite the financial reports of many companies! So, w...
Source: Life Optimizer - Category: Consumer Health News Authors: Tags: Learning Working Source Type: blogs