How to approach anything - life, finance, philanthropy

Buffett's mindset is key to his excellence as an investor and philanthropist. Here's what we can learn from him:

  • Understand your unique qualities & focus on those opportunities that make the best use of them.
  • Learn from your mistakes.
  • Focus on the big picture.
  • Let your head have a say even when it's a question of the heart.
  • Be flexible in your thinking but not volatile. Understand and be convinced of the 'why' first.
  • Patience is invaluable.
  • Master your emotions, work on emotional resilience.

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The Warren Buffett Way

The Warren Buffett Way

by Robert G. Hagstrom

The Warren Buffett wisdom
  • Just because everyone else is doing something, doesn't make it right.
  • Everyone's "wired in a particular way". Understand yours & make the best of it.
  • Accept & use to your benefit the fact we can't be experts at everything. "What can be more logical, in whatever you want done, than finding someone better equipped to do it?"
  • Misfortunes don't make an experience a complete failure if you learn something from it.
  • "It's just not necessary to do extraordinary things to get extraordinary results."

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To understand the bigger picture

"To achieve 'worldly wisdom', you must build a latticework of mental models that unite all the big ideas in the world."

- Charlie Munger

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Right or wrong

"You are neither right or wrong because the crowd disagrees with you. You are right because your data & reasoning are right."

- Benjamin Graham

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Converting knowledge into achievement

"It is not enough to have good intelligence. The principal thing is to apply it well."

- Rene Descartes

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