13 Gems From Two Of The Richest Men You Should Know
Every year Berkshire Hathaway has a shareholder?s meeting where Charlie and Warren answer questions from shareholders.? Some have said paying the steep price of $217,000 price to buy one share of Berkshire-Hathaway is worth it just so you can attend this meeting to hear the advice.? When trying to predict the market Buffett made it clear that he doesn?t invest in a company based on macro factors because you can?t predict macro factors so you have to base your investments on what you can predict.
- On big-picture thinking
When Buffett was asked whether today?s companies are too short-term-focused, he said, ?We don?t ignore yearly earnings, but we don?t live by them.?
Buffett added that he is looking for businesses to be ?widening their moat,? or improving their competitive advantage. Essentially, while earnings are important, he wants businesses to be constantly improving, and that doesn?t always immediately translate to bottom-line results.
All thirteen quotes are about investing in not only wealth but your health as well.? Charlie Munger is 91 and Warren Buffett is 84.? When it comes to taking risks the duo said they could have pushed harder and used leverage to make investments but they would have been ?sweating at night. It?s crazy to sweat at night?.over financial things.? ?The biggest takeaway is doing what makes you happy leads to a healthy and wealthy life.
Word-For-Word Lines For
In this FREE Manuscript:
We respect your email privacy
About Shaun Archer Tatum Shaun works in corporate finance in New York City. He has done financial consulting for several start-ups and has worked at several Fortune 500 companies. He has contributed several finance/investing articles on Seeking Alpha which have been published on Yahoo! Finance.