Monday, July 8, 2013
WARREN BUFFET’S SUCCESS MANTRAS - GOOD TIME TO REMEMBER
It is always a pleasure, a highly insightful pleasure, to read Warren Edward Buffet’s success mantras periodically. This Blog had covered many of his success Mantras earlier. But, coming from SWATANTRA, an investment Education initiative powered by the Times of India (page.15 of TOI today), it makes a refreshing reading.
I am giving below, the bare mantras, leaving the explanations and descriptions to be read by the reader from TOI itself :
1. Don’t save what is left after spending. Spend what is left after Saving
2. Chains of Habit are too light to be felt until they are too heavy to be broken
3. If you Buy things you don’t need, you will soon sell things you need
4. Someone is sitting in the shade today because someone planted a tree long ago
5. Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted in patching leaks
6. Risk comes from not knowing what you are doing
7. No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant
8. The Business schools reward difficult complex behavior more than simple behavior but simple behavior is more effective
Buffet has said, “the happiest people do not necessarily have the best things. They simply appreciate the things they have.”
Talking about his Mantras, Buffet has said,” we simply attempt to be fearful when others are greedy and to be greedy when others are fearful.”
Well. There are many more of his mantras well stated and well explained by many Journalists, authors, Investment counselors and so on. But, in the final analysis, even these 8 mantras are enough education if properly understood, remembered and followed. The word saving in these Mantras actually needs to be understood as timely saving and timely investment both.
So, Invest well and be happy.