“You don't have to swing at everything - you can wait for your pitch."
Life doesn’t reward you for the number of swings you take.
Focus on identifying the juiciest pitch.
When it comes, swing hard and don’t miss it.
Warren Buffett is a treasure trove of wisdom.
But contrary to what you have been told, most of it has nothing to do with investing.
10 powerful lessons for life from the Oracle of Omaha:
“You don't have to swing at everything - you can wait for your pitch."
Life doesn’t reward you for the number of swings you take.
Focus on identifying the juiciest pitch.
When it comes, swing hard and don’t miss it.
“The most important thing to do if you find yourself in a hole is to stop digging."
When things aren’t working, change course and try something different.
Be nimble. Be agile.
When you find yourself at the bottom of a hole, stop digging and climb out of it.
“Price is what you pay. Value is what you get.”
Seek out situations where there is a clear disconnect between price and value.
This applies to investing, but it’s more broadly a mental model for life.
Identify disconnects. Exploit them to your advantage.
“Be fearful when others are greedy and greedy when others are fearful.”
Following the crowd is easy, but it can be a trap.
Learn to think independently. Come to your own decisions. Develop your own mental models.
Your unique perspectives are your superpower.
“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble."
Create structures that enable you to capture more of the value you create.
The most successful people have simply optimized their value capture mechanisms.
“Time is the friend of the wonderful business, the enemy of the mediocre.”
Don’t be in a rush.
Set up your life to compound value over the long-term.
Play long-term games with long-term people.
Make time work for - not against - you.
“Risk comes from not knowing what you're doing.”
Be ruthlessly honest about what you know (your circle of competence) and what you don’t.
Focus on playing games within your circle - otherwise, you’re just gambling.
“It's only when the tide goes out that you discover who's been swimming naked.”
Find a balance between pushing yourself for growth and being completely out of your depth.
Never put yourself in a high-stakes position to get caught swimming naked.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”
In every interaction - big or small - always act in accordance with strong principles and values.
Your character is your fate.
“The most important investment you can make is in yourself."
There is no better investment than an investment in yourself.
Find time to read, to think, to learn.
Surround yourself with amazing people who push you to become better.
Invest in you.
What are your favorite lessons from the Oracle of Omaha?
I have to admit, I am still shaking from this moment at the Berkshire Hathaway Annual Meeting in 2019...
1/ An Allegory of Finance
— Sahil Bloom (@SahilBloom) July 18, 2020
I have been posting a lot of educational (and humorous!) threads on finance, money, and economics.
My mission is simple: to demystify these concepts and make them accessible to everyone.
All of the threads can be found below. Enjoy and please share!
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🌿𝑻𝒉𝒆 𝒔𝒕𝒐𝒓𝒚 𝒐𝒇 𝒂 𝑺𝒕𝒂𝒓 : 𝑫𝒉𝒓𝒖𝒗𝒂 & 𝑽𝒊𝒔𝒉𝒏𝒖
Once upon a time there was a Raja named Uttānapāda born of Svayambhuva Manu,1st man on earth.He had 2 beautiful wives - Suniti & Suruchi & two sons were born of them Dhruva & Uttama respectively.
#talesofkrishna https://t.co/E85MTPkF9W
Now Suniti was the daughter of a tribal chief while Suruchi was the daughter of a rich king. Hence Suruchi was always favored the most by Raja while Suniti was ignored. But while Suniti was gentle & kind hearted by nature Suruchi was venomous inside.
#KrishnaLeela
The story is of a time when ideally the eldest son of the king becomes the heir to the throne. Hence the sinhasan of the Raja belonged to Dhruva.This is why Suruchi who was the 2nd wife nourished poison in her heart for Dhruva as she knew her son will never get the throne.
One day when Dhruva was just 5 years old he went on to sit on his father's lap. Suruchi, the jealous queen, got enraged and shoved him away from Raja as she never wanted Raja to shower Dhruva with his fatherly affection.
Dhruva protested questioning his step mother "why can't i sit on my own father's lap?" A furious Suruchi berated him saying "only God can allow him that privilege. Go ask him"
Once upon a time there was a Raja named Uttānapāda born of Svayambhuva Manu,1st man on earth.He had 2 beautiful wives - Suniti & Suruchi & two sons were born of them Dhruva & Uttama respectively.
#talesofkrishna https://t.co/E85MTPkF9W
Prabhu says i reside in the heart of my bhakt.
— Right Singh (@rightwingchora) December 21, 2020
Guess the event. pic.twitter.com/yFUmbfe5KL
Now Suniti was the daughter of a tribal chief while Suruchi was the daughter of a rich king. Hence Suruchi was always favored the most by Raja while Suniti was ignored. But while Suniti was gentle & kind hearted by nature Suruchi was venomous inside.
#KrishnaLeela
The story is of a time when ideally the eldest son of the king becomes the heir to the throne. Hence the sinhasan of the Raja belonged to Dhruva.This is why Suruchi who was the 2nd wife nourished poison in her heart for Dhruva as she knew her son will never get the throne.
One day when Dhruva was just 5 years old he went on to sit on his father's lap. Suruchi, the jealous queen, got enraged and shoved him away from Raja as she never wanted Raja to shower Dhruva with his fatherly affection.
Dhruva protested questioning his step mother "why can't i sit on my own father's lap?" A furious Suruchi berated him saying "only God can allow him that privilege. Go ask him"
