It's common to come across tips on "Investing like Warren Buffett", but those are incomplete without you actually adopting the values and ethics that he follows. It's sure to help you in leading a happier and more meaningful life.
Buffet is full of wisdom, not just on investing, he is a terrific life coach is well. Let’s get intellectually richer by reading some of his best advice to humanity. Remember! Being a good human is a precondition to becoming a good investor.
Now if you wondering what's the connection between the two, allow me to explain...
Investing is a long term activity, In this journey, it's vital that you are surrounded by good people, people you can trust and people who will never misguide you. The only way you will find good company is by being worthy of their friendship.
"What's the best way to get a good spouse ? The best single way is to deserve a good spouse. because a good spouse is by definition not nuts".
In case you are wondering...don't worry, all subsequent quotes are by Warren Buffett. Treasure awaits you, Read on..
Try and remember all those times when in order to be the first one to complete the task, you messed it up. Happens with everyone, we are conditioned to try and excel at everything we do, our parents and teachers have drilled it in us that we need to the best all the time. This can backfire, we should realize that excelling at something is a result of repeated practice. Eventually, we will excel with practice hours behind us. If you finish regularly, you will eventually finish first.
This advice has saved me numerous on occasions, from doing a not so ethical thing. If i had to condense all the worldly wisdom in just one line, i will choose this. We do all kinds of stuff under the belief that no one is watching us. It’s important to live the way you would, if the entire world was watching you.
Imagine a situation in which you can buy any car you want, for free. The only condition is that the car you choose will be the car you have to drive for your entire life. In such a situation, you will buy a car after great research and then you will take real good care of it. It's such a simple thing to understand, that since the car has to last for a lifetime it needs to be maintained well, that one car…..is your body.
Smokers & alcoholics will readily testify for this. It's not just about addictions, this statement is true for our everyday habits such as laziness or procrastination. As a child, we all dream big. But as reality strikes, we become slowly content with the compromises we make.
Some compromises are due to unavoidable circumstances, but mostly are a product of our unwillingness to work hard. So break that chain of compromises ...and the world awaits you.
We expect a lot from people, we expect them to help, guide and support us, we expect respect and empathy. Yet, how often to we make the effort to provide all this to the person standing in front of us ?
We are often so engrossed in our needs and desires that we are gradually become emotionally dead. Adults often find themselves unable to think beyond the well being of their friends and family. Caring for your loved ones doesn’t make you human, it’s our ability to empathize with strangers, that makes us superior.
I know these all changes are difficult to inoculate ! But what's the hurry? Buffett would have said.. "Start with the first one".