The Buffet Society: 10 Tips To Invest In”g”

Posted on 13. Nov, 2009 by AndrewSmiles in Business, Finance & Investments, Inspiration

After watching the Warren Buffet documentary aired on BBC 2 on the 10/05/09, many were left wondering whether investment was really that simple. Buffett throughout the show illustrated humility and a great sense of discipline in his family; for example his son accepted and viewed it fair that he did not receive his father’s inheritance due to the fact that his father was talented at something and not himself.

Perhaps the most dominant feature emphasised though was the art of persuasion, the craft in which Buffett not only wins over the viewer but also many business deals and companies. It is human nature that we are attracted to someone who seems trustworthy, kind, considerate and reputable. And Buffett seems to Tick all the boxes.

Now to be part of the Buffett society you must “Do as Buffet does,” so here is a my 10 top entry requirements to earn your entry into the Buffett society.

1: Find a teacher/practitioner or as some like to call it a mentor, someone you aspire to be like and overcome. For Buffett this was Benjamin Graham who wrote the excellent book Intelligent Investor (Hint: Read it as well) which coined up the renowned anthropomorphic volatile Mr. Market.

2: Think Big, think about ownership and invest rather, do not speculate and spend your life looking at shares like its facebook and hoping they will rise each day…. you have better luck seeing Arsenal win the Champions league.

3: Work with a Team of likeminded people who complement your skill set. For example

4: Apply the skills you learn in every sphere of your life. Buffett buys second hand everyday cars. He does not Hustle Backwards and buy bling, countless designer clothes and a mansion of Tyson that you now struggle to sell….

5. Develop goal congruence not sub optimality. Work together towards a common goal as we are all stronger if we pull in the same direction.

6: The Chinese word for crises (危机) represents that times of danger breed opportunity.

7: Time and time again we are told about the strength of believing. When Buffet was 17 he told his mum that he would be a millionaire when he is 30 and she said “probably so.” It is within all of our reach we just need some belief.

8: Before working on others and companies, work own yourself, what is it that you can do that makes you stand out. What shines from deep inside you, what is your Unique Selling Point (USP)? As mentioned previously play to your strengths and complement your weaknesses.

9: Power of persuasion, learn how to win over the many as well as the few.

10: In marriage, food or investing, Think Independently, think for yourself and don’t believe the hype you hear in the media or the gossip on twitter, don’t jump on bandwagons build your own.

“Whatever you vividly imagine, ardently desire, sincerely believe, and enthusiastically act upon must inevitably come to pass.” So Think and Grow Rich