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

Converting knowledge into achievement

Buffett's mindset is key to his excellence as an investor and philanthropist. Here's what we can learn from him:<ul><li>Understand your unique qualities & focus on those opportunities that make the best use of them.</li><li>Learn from your mistakes.</li><li>Focus on the big picture.</li><li>Let your head have a say even when it's a question of the heart.</li><li>Be flexible in your thinking but not volatile. Understand and be convinced of the 'why' first.</li><li>Patience is invaluable.</li><li>Master your emotions, work on emotional resilience.</li></ul>

How to approach anything - life, finance, philanthropy

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

To understand the bigger picture

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

Right or wrong

<ul><li>Just because everyone else is doing something, doesn't make it right.</li><li>Everyone's "wired in a particular way". Understand yours & make the best of it.</li><li>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?"</li><li>Misfortunes don't make an experience a complete failure if you learn something from it.</li><li>"It's just not necessary to do extraordinary things to get extraordinary results."</li></ul>

The Warren Buffett wisdom 

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Buffett is back . . . and better than before! A decade has passed since the book that introduced the world to Warren Buffett -- The Warren Buffett Way by Robert Hagstrom -- first appeared. That groundbreaking book spent 21 weeks on the New York Times Hardcover Nonfiction Bestseller list and sold over 1 million copies. Since then, Warren Buffett has solidified his reputation as the greatest investor of all time -- becoming even richer and more successful, despite the wild fluctuation of the markets. How does this value investing legend continue to do it? That's where Robert Hagstrom and the Second Edition of The Warren Buffet Way come in. This edition is a completely revised and updated look at the Oracle of Omaha -- comprising Buffett's numerous investments and accomplishments over the past ten years, as well as the timeless and highly successful investment strategies and techniques he has always used to come out a market winner. This edition is especially accessible as Buffett's basic tenets of investing are presented and illuminated with relevant and up to date examples. Order your copy today!

Robert G. Hagstrom is Senior Vice President and Director of Legg Mason Focus Capital. He has authored the New York Times best-selling The Warren Buffett Way and The Warren Buffett Portfolio, as well as The Nascar Way. He lives with his family in Wayne, Pennsylvania. 

The Warren Buffett wisdom

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