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Q&A with Warren Buffett

Discussion in 'General Entrepreneur Discussion' started by JScott, Feb 26, 2008.

  1. JScott
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    JScott Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Sparky, WestCoast and Jill like this.
  2. Jill
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    Jill Silver Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

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    Great article, JScott. Thanx for the link! Speed+

    A couple of my favorite pearls:

    "Out of school I offered to work for Graham for free and he said I was overpriced."

    "After a talk at Harvard, I told them to work for who they admired the most, so they all become self-employed."

    "If it’s your game, diversification doesn’t make sense... If you have Lebron James on your team, don’t take him out of the game just to make room for someone else."
     
  3. andviv
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    andviv Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

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    great article.
    I loved many quotes:

    Markets are efficient most of the time about most things. But for these opportunities, nobody will tell you about them. They won’t be on CNBC and they won’t be in brokerage reports. You have to go find them yourself.
    ...
    The markets will get it right eventually. But they are there. You don’t have to find too many. Finding 10 of these opportunities in your lifetime will make you so rich. But you can’t be wrong. You can’t have any zeroes. A list of big numbers multiplied by zero will equal zero. You can’t go back to “Go”.


    Tell me who your heroes are and I’ll tell you how you’ll turn out to be.

    I think the best way to stimulate the economy is to give money to the poor. They will spend it. Don’t give it to guys like me. Infrastructure investment makes sense, but we haven’t done it in a while and it won’t do anything for the next 6-12 months. Infrastructure is not big relative to GDP. We are a consumer-driven society, spending 106% of production.
     
  4. WestCoast
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    WestCoast Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    nice find

    Buffett has such a simple and efficient take on things, it's great.
    I don't play the market much anymore, nor do I care too.
    Even so, his lessons apply to all sorts of things, and all sorts of strategies.

    I like to think if I run my businesses 1/10th as well as the people he would hire, that things will work out just fine :)

    speed +
     
  5. kimberland
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    kimberland Bronze Contributor

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    I love this one.

    I saw a "money makeover" on tv yesterday.
    The lady was a real estate investor.
    She had been doing it for years,
    piling up the net worth.
    The "experts" were telling her to diversify,
    to get into stocks, bonds, etc.

    WTF?
    She is winning at the real estate game,
    why would she want to play something else?

    I think boredom is one of the biggest risks to wealth.
     
    andviv likes this.
  6. Sparky
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    Sparky New Contributor

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    This is the quote I printed for myself:

    Sparky
     
  7. andviv
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    andviv Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

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    Great quote!
    This is a very important point.
    Big money is made by focusing and specializing.
    Focusing and improving mean doing the same thing over and over again, until you master that activity.

    This is boring. There is no excitement once you know "everything" there is to know.
    The temptation appears to do something else, out of boredom.


    --Sparky, I loved that quote about habits. I heard from a Tony Robbins CD, and a REI book, that there are no neutral habits. They are either positive or negative.
    Get rid of negative habits and reinforce the positive ones and
    you will have a higher rate of success, no matter what endeavor you are taking.
     

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