"Chains of habit are too light to be felt until they are too heavy to be broken."
- Warren Buffett
Warren Buffett, one of the most successful investors in the world, donated a majority of his wealth, US $30 billion+, to the Bill Gates Charitable foundation. Here are seven magnificent teachings/quotes from Warren Buffet:
1. It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
2. Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars
3. The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective
4. Your premium brand had better be delivering something special, or it's not going to get the business.
5. You only have to do a very few things right in your life so long as you don't do too many things wrong.
6. Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisors will come up with whatever projections are needed to justify his stance. Only in fairy tales are emperors told that they are naked.
7. Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don't have the first, the other two will kill you. You think about it; it's true. If you hire somebody without the first, you really want them to be dumb and lazy.
And some investment advice from One of The Greatest Investors…