10 Mind Blowing Lessons I learned from 50 Hours Interviews of Warren Buffett
Warren Buffett the legendary investor and CEO of Berkshire Hathaway is known for his remarkable insights on investing, business and life. Over the years he has shared his wisdom with the world through various interviews, speeches and writings. And in just 50 hours of listening to him I have learned 10 key takeaways that could help anyone improve their financial acumen.
1- Invest in businesses not stocks
The approach of Warren Buffett to investing is to buy great businesses at a fair price rather than to buy stocks at a cheap price. He looks for companies with a sustainable competitive advantage and a high return on capital. He believes that investing is about owning a piece of a company and not just trading pieces of paper.
2- Be patient and think long term
Buffett is known for his patience and long term thinking. He believes that the key to successful investing is to buy and hold great businesses for a long time rather than to buy and sell stocks based on short term fluctuations in the market. He once said: Our favorite holding period is forever.
