83 Reasons To Love Warren Buffett

To help celebrate Warren Buffett’s 83rd birthday a few years ago Motley Fool suggested 83 reasons why they love their hero.

Here’s a few of them…

      1. His perspective: “In the 20th entury, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.”Warren Buffett
      2. His time frame for the long run consistently exceeds his life span.
      3. He says it better: “Someone’s sitting in the shade today because someone planted a tree a long time ago.”
      4. Classic line: “Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.”
      5. Once branded a stingy miser (rightly or wrongly), Buffett has evolved (assuming it wasn’t his intention from the start) into one of the most effective philanthropists I know. After growing his potential givings at a 20% compounded rate per year, he set a plan to give most of it away.
      6. “I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.” Contrast that with computer algorithm-based trading, day trading, and some of the moves you’ve made in your own account.risk
      7. Buffett’s smarter than you and I, but he’s kind enough to let us feel otherwise.
      8. “You only have to do a very few things right in your life so long as you don’t do too many things wrong.”
      9. He has the ability to resist the allure of the quick fix or quick buck when longer-term dynamics are at play.
      10. An investing truism: “Price is what you pay. Value is what you get.”
      11.  “Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
      12. Classic line: “Only when the tide goes out do you discover who’s been swimming naked.”
      13. “Risk comes from not knowing what you’re doing.”
      14. Trash-bin-diving caution No. 1: “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
      15. The contrarian credo: “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
      16. He converts a deadly sin into a virtue: “You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.”36851472_l
      17. Buffett buys what he knows (and frequently loves), but he doesn’t overpay out of affection. He has the discipline to wait decades for the right opportunity.
      18. Before making his money work for him, he worked for his money early on with a series of jobs, schemes, and ventures
        These included a paper route, selling chewing gum door to door, a pinball business, a sales job at J.C. Penney’s, caddying, marking up refurbished golf balls, and founding a horse-racing tip sheet.
      19.  It’s very possible that the house you live in is worth more than the house Buffett lives in — the house in Omaha he bought in 1958.
      20. Over the years, he has relied on a similar set of answers to oft-asked questions. That his philosophy has stayed stable throughout that time is remarkable.
      21. His wealth has bought him the ultimate trophy: He does whatever he wants to do just about every single day.

You can read the rest  in the Motley Fool article here.

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Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He's been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au

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