Warren Buffett: 43 Lessons for Business & Life

By: Keith Lard Format:  Physical Book

Completed: 11/19/2023

What's it about:  A short book about the lessons of Warren Buffet, one of the best investors and thinkers of modern times.

Main Takeaway: There are a lot of "Wow, I need to really ponder this for an hour", type lessons. My main takeaways are: 1). Think long(er) term. Buffet never did anything for a quick short term profit, and it seems to work so long as you are on the right path for something. It's obviously hard to apply this lense, but it works for everyting. Want to get fit? How can I be fit in 50 years. Wnat to eat better? How can I ensure I am eating better in a decade. Want to get rich? How can I ensure I am rich in 10, 20, or 30 years. The answer is rarely "Make money this week". Quotes that folow that idea:

"It's not necessary to do extrodinary things to get extrodinary results."

And

"It's lack of change that appeals to me... That's the kind of business I like." 2). Think deeply about the people that you spend time around. If you don't want to spend years with them, why spend a few minutes? Be thoughtful with your circle, especially those you do business with. If you are going to spend lots of time with them, their true nature will come to the surface and they will take opportunities to get the better of you. Again, think long term. "You can't make a good deal with a bad person."

The opposite is likely true that you can't make a bad deal with a good person. They will ensure that both sides are handled fairly and with respect.