There was a one hour interview on CNBC with Warren Buffet, the second richest
man who has donated $31 billion to charity. Following are some very interesting
aspects of his life:
1. He
bought his first share at age 11 and he now regrets that he started too late!
Things were very cheap that time. Encourage your children to
invest.
2. He
bought a small farm at age 14 with savings from delivering newspapers. One
could have bought many things with little savings. Encourage your children to
start some kind of business.
3. He
still lives in the same small 3-bedroom house in mid-town Omaha , that he bought
after he got married 50 years ago. He says that he has everything he needs in
that house. His house does not have a wall nor a fence.
Don't
buy more than what you "really need" and encourage your children to do and think
the same.
4. He
drives his own car everywhere and does not have a driver nor security people
around him. You are what you are.
5.He
never travels by private jet, although he owns the world's largest private jet
company. Always think how you can accomplish things economically.
6.
His company, Berkshire Hathaway, owns 63 companies. He writes only one letter
each year to the CEOs of these companies, giving them goals for the year.
He never holds meetings nor calls them on a regular basis. Assign the right
people to the right jobs.
7. He
has given his CEO's only two rules:
Rule number 1: Do not lose any of your shareholders' money.
Rule number 2: Do not forget rule number 1.
Set
goals and make sure people focus on them.
8. He
does not socialize with the high society crowd. His past time after he gets home
is to make himself some pop corn and watch Television. Don't try to show off,
just be your self and do what you enjoy doing.
9.
Warren Buffet does not carry a cell phone, nor has a computer on his desk.
10.
Bill Gates, the world's richest man met him for the first time only 5 years ago.
Bill Gates did not think he had anything in common with Warren Buffet. So he had
scheduled his meeting only for half hour. But when Gates met him, the meeting
lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
His
advice to young people:
"Stay
away from credit cards (bank loans) and invest in yourself and Remember:
1.
Money doesn't create man but it is the man who created money.
2.
Live your life as simple as you are.
3.
Don't do what others say, just listen to them, but do what you feel good.
4.
Don't
go on brand name; just wear those things in which you feel comfortable.
5.
Don't
waste your money on unnecessary things; just spend on those who rather really in
need.
6.
After
all it's your life, then why give chance to others to rule our life."
Let us choose the way to live.
By Tim Pedrosa
The
happiest people do not necessarily have the best of all.
They simply appreciate
what they find on their way.
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Tim
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