In fact, it should not be difficult for financial managers to understand Buffett's success when they read the Biography of Buffett. All success studies cannot be copied, so reading is just to absorb the essence of some books, or enrich their own lives. Reading is a meaningful thing.
Time flies like a shuttle. It is only when you read constantly. There is a golden house in the book, and there is a beautiful face in the book. I started reading the Biography of Buffett in May and finished reading it at the beginning of June. There should be several versions of the Biography of Buffett, but I have read it since Buffett was a child. Buffett is a legend. Since he is a legend, he must be mysterious.
Buffett began to contact with business when he was a child. It should be the enlightenment of financial quotient in his grandfather's grocery store. His father worked in a securities economy company, and the influence of his family was also crucial. Ordinary people like me only came into contact with financial knowledge slightly when they were adults, and it was too late to make up for many of them.
When he was reading, he came across Graham's book Smart Investor, and《 Securities analysis 》Buffett is very thoughtful. He reads repeatedly and then practices in life, thus achieving great success.
Buffett has been selling Coca Cola since he was 6 years old. It is reasonable that he could not live without Coca Cola in his life. I saw a paragraph later about Buffett's wife Susan went to buy him Coca Cola at a discount, and I laughed at that time. It's true that Buffett, who can't live without Coca Cola, can't live without him. At the age of 13, Buffett started delivering newspapers, and later he bought the Washington Post. What he likes later becomes a major feature of Buffett. Buffett once said that he would become a millionaire at the age of 30, otherwise he would jump from the 30th floor, and he really did it.
From the details of life, Buffett is a super millionaire, but he lives a frugal life. His breakfast is less than $3. His favorite drink is Coca Cola. His house was bought in 1958, and his car is very old. Many people ask him that you earn so much money but live such a simple life, and he says that is his favorite way of life.
Buffett, who loves reading all his life, is also a cornerstone of success. His greatest feature is focus, focus on investment, focus on making money, so he succeeded, became the god of stocks in people's minds, and became the pioneer of value investors.
There is a lot of space in the book about his acquisition The process of the furniture store in Nebraska, and some interesting stories with the founder of the furniture store, Mrs. B. Mrs. B is also a legendary old lady, whose business philosophy is also very wonderful, so successful people always have some different looking actions. Mrs. B suffered a lot. She borrowed 500 dollars to open a furniture store in the basement. His goods were sold after a 10% price increase. So the business was booming that they were suppressed by peers. The supplier even accused her of dumping at a low price, which was unfair competition. The court found her innocent. The next day, the judge went to her store to buy cheap carpets.
Mrs. B often sells the furniture at home when she buys furniture, and the Kazakh family are used to it. When Buffett understands After the situation of the furniture store in Nebraska, she resolutely told Mrs. B about the purchase of 80% of the equity of the furniture store. Mrs. B was also old, but she still knew the economic benefits of the furniture store very well. She opened her mouth to $55 million, which created a net profit of $8.5 million that year. So Buffett's vision is unique.
This book has a detailed introduction to Buffett's acquisition of many companies. I won't repeat it here. Let's talk about Buffett's interesting marriage life. Buffett's first wife was Susan, who was very virtuous and devoted a lot to Buffett. But when she had a fortune of 3 billion dollars, she felt that she could not get love from Buffett, and began to pursue her dream that was the singing career she loved when she was young. Buffett also supported her. As a result, Susan moved out of her home and separated from Buffett. Although Buffett was very painful, Because he couldn't do without Susan's nanny care, Susan's best friend, Ashley, moved into Buffett's house later. Susan didn't divorce Buffett, and Ashley lived with Buffett in this way, and the three of them still got along happily.
Susan died in 2004, and Buffett and Astrid got married in 2006.
The legendary life of Buffett is worth reading, but the unrepeatable life experience is beyond our reach. Buffett is an entrepreneur, an investor or a god of stocks. His way of investing in stocks does not have very profound secrets. He said that buying stocks is to buy stocks that can be worth one dollar but are currently priced at 0.5 cents. In fact, ordinary people also understand this truth, but they just have no eyes to identify these stocks.
Buffett's three investment principles: first, never lose money; Second, never lose money; Third, never rush to the mistakes ahead.
Ignore the rise and fall of the stock market, do not worry about the changes of the economic situation, do not believe any predictions, do not accept any insider information, only pay attention to two points: A. What stocks to buy; B. Buying price. It is always difficult for ordinary people to do so.
