A Conversation with Warren Buffett

JerichoHill

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His address to an MBA class was put onto YouTube Here

http://youtube.com/watch?v=DfuXKpMFUjc&mode=related&search=

If you continue to have investment questions, watch this whole series (about 1.5 hours). Pretty sure that investment advice from Buffett is about the best you'd get.

If you want the cliff-notes version, here goes

1) Unless you want to devote your work-life to the business of finance, invest in index funds.

2) Don't get emotionally attached to your investments

3) Don't read the financial journals, or watch the nightly stock market updates

4) Because brokers/financiers/analysts make money on every transaction you make, so by not watching daily (he would say update every 6 months) you avoid giving them money

5) Only work where you're happy, with people you're happy with.

6) When you get rich, don't change anythign about your life except how you travel.

7) If you want to be a smart investor, invest in what you know, what you buy, what you consume.
 
Warren Buffet is a damn smart dude.
 
Yay for #1 and #3. I know so many of my colleagues who are literally having a side job managing their shares and investements on a daily basis...
 
In full disclosure, I am a shareholder in Berkshire-Hathaway. Mainly because what Warren says makes sense to me, so I believe it, and I believe that B-H is a company with a moat around it (you'd have to watch the videos to get that reference)
 
Yay for #1 and #3. I know so many of my colleagues who are literally having a side job managing their shares and investements on a daily basis...

Yeah. I long ago concluded that it would take way too much time for me to learn enough about finances to be able to manage my IRA/401k/investments at any level of detail.

So, I stick w/ index funds and a couple stocks I like per rule 7 (Pepsi and Toyota :)).
 
I am giddy with anticipation. I gotta finish accounting first!
 
Buffett is just an all-around great person. Great investor, great philanthropist, great teacher. Plus he has a great name. The guy is giving away almost all of his fortune when he dies to the Bill Gates foundation.
 
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