Though I’m not an active investor, I love reading Buffet’s and Charlie Mungers Investing principles and the story of how Buffet learned this principle from his favorite Investor Benjamin Graham (Buffet’s teacher)
I recently read Buffett’s Biography – The Snowball – Warren Buffett and the Business of Life noting down the life of the legendary investor gives full access to Alice Schroeder to explore Buffet’s life. Even though you get a lot of investing principles on youtube and blogs but Alice builts an inside life story of Buffet’s life.
Snowball is about the concept of learning, & creating, and moreover the advantage of having the information and knowing it.
Buffet use to learn and create cumulative base of knowledge in his head, one reason that he doesn’t use a computer is that in a sense, he is one. He also needs a internet to get news. Buffet wants to know what’s going around the world. His intent on being in internet to consume news reports, and he’s up late at night seeing what’s happening arounnd but Buffet doesn’t use it as a filing cabinet or for taking notes.Favorite quotes
what we do on a daily basis is so much at the intersection because retrieving information is different from having it already in our heads. The internet is wonderful for being able to retrieve and get information. Learning and making ourself as smart so as to not rely on a library where I can look something up all the time, because a lot of times when we need to make instant decision, and we need 50 pieces of information, you need to know it then.
Key Take Away – Questions to ponder
- What do you spend time on that’s likely to change in the next few years?
- What’s not likely to change?Will you care about what you’re reading in a month? In a year? In five years?
- I’m I focused enough on the same thing to build cumulative knowledge or am I too spread out?
- What would need to happen for you to stop outsourcing the organization of information to the computer?
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