10 ways to mimic Buffett’s success
Welcome, straight into it.
- Read like a maniac, you should read everything written by Buffett and everything that Buffett has read- manifest his way of thinking, wisdom at it’s best.
- Read annual reports, they allow you to understand business- investing is not all about understanding stocks, this is the wrong mindset as it is mostly about understanding business.
3. Do not attempt to mimic Buffett’s success unless you have the energy to stick to investing for the long term, the success that one has in investing is discovered later- if one has the patience and stomach for it.
4. Find the right mentors and attract the right people into your life, those who understand and support you- finding the right life partner is essential.
5. Invest in yourself, do this over the period of 10–20 years and you would be shocked at the results that you can achieve- we over estimate the short term results we can get and we underestimate the long term results that we can attain.
6. Learn to produce your best self, focus on self improvement and personal development- these skills are essential in order for you to produce Buffett results, the quality of your character is important.
7. Be willing to listen but do not always take in everything that everyone says, a chunk of Buffett’s success has come from maximizing the ability to think independently and to decision make.
8. Be willing to constantly learn and adapt to situations, a fixed mindset will only get you so far- be a life long learner.
9. Engage and build relationships which will last for the long term, these hold much more value in the long run.
10. Be willing to take bold bets against the consensus and always be courageous in the investing, do not follow the crowd- be brave.
It is simple, which is why so few will employ this into their daily lives- simplicity is genius.
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Thanks for reading and have a solid week.
Regards,
Jagdip
