Here is what I learned from Warren Buffet’s biography
Have you ever read a book that changed your life?
I recently completed Warren Buffet’s biography, The Snowball: Warren Buffet and the Business of Life. And I can truly add this book to the list of best books I’ve ever read.
By making great investments over his lifetime, Warren Buffet has created a snowball that has become so big and unstoppable. Although he mostly invests in stocks, and I primarily invest in property, I learned so many principles from him that I can apply to my strategies.
One thing he emphasises over and over in the book is not to undermine independent thinking and not to mind others’ opinions too much. In other words, listen to others but think for yourself.
“You can’t do well in investing unless you think independently. And the truth is, you are neither right nor wrong because people agree with you. You’re right because your facts and reasoning are right. In the end, that’s what counts,” Buffet states in the book.
This is something I’m applying to my property portfolio. There are a lot of opinions out there, but I’ve decided to start looking at the facts. Success is like a snowball. And people’s opinions are the debris on the mountain that only serves to slow the snowball down. Facts allow you to grow your snowball and pick up momentum.
I often say to those around me that I am where I am in life, because of WHO I am. And If I want to change where I am, I need to look inwardly and change WHO I am by developing myself. And it seems like I am on the same page as Warren Buffet because this is what he says towards the end of the book:
“You’ve got to be the kind of person that the snow wants to attach itself to. You’ve got to be your own wet snow in effect. You’d better be picking up snow as you go along, because you’re not going to be getting back up to the top of the hill again. That’s the way life works.”
What are you doing to grow your snowball?