Warren Buffett Teaches

By sibabrata on 3:59 PM

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Test……..one million……..two million…………three million… This is how Buffett tested the microphone before his speech at the annual shareholders' meeting of Berkshire Hathaway. He really enjoys the game of making money. Not to spend it, but to accumulate it. The early investors in BH turned $10,000 into $100 mill for 40 years. The thing Buffet hates the most is losing money. One time he went golfing with some friends in California. The group offered Buffet a bet: his $10 against their $20,000 that he couldn't score a hole in one over the next three days. He didn't agree to participate in the challenge. He told his friends that after careful consideration, he concluded that it wasn't a good bet for him. He mentioned that their offer is like a lottery ticket - a very small entry price and close to zero chance to win. If you let yourself be undisciplined on the small things, you'd probably be undisciplined on the large things too. Buffet has very interesting attitude towards the market. He says that market should be looked as an emotionally disturbed business partner. This partner shows up each day offering a price at which he will buy your share of the business and price at which he would sell you his share. No matter how wild his offer is or how often you reject it, Mr. Market returns with a new offer the next day and each day thereafter.
And don't forget one of Buffet's favorite quotes by Wayne Gretzky's: Don't go where the puck is. Go where the puck is going.



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