1. He bought his first share at age 11 and he now regrets that he started too late!
Things were very cheap that time;
Encourage your children to invest.
2. He bought a small farm at age 14 with saving from delivering newspapers.
One could have bought many things with the little savings.
Encourage your children to start some kind of business.
3. He still lives in the same small 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house.
His house does not have a wall or fence.
Don’t buy more than what you really need
and encourage your children to do and think the same.
4. He drives his own car everywhere and does not have a driver or security people around him.
You are what you are.
5. He never travels by private jet, although he owns the world’s largest private jet company.
Always think how you can accomplish things economically.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.
Assign the right people to the right jobs.
7. He has given his CEO’s only two rules.
Rule No. 1: Do not lose any of your share holder’s money.
Rule No. 2: Do not forget rule no. 1.
Set goals and make sure people focus on them.
8. He does not socialized with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
Don’t try to show off.
Just be yourself and do what you enjoy doing.
9. Warren Buffett does not carry a cellphone or has a computer on his desk.
10. Bill Gates, the world’s richest man met him for the first time only 5 years ago.
Bill Gates did not think he had anything in common with Warren Buffett, so he scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for 10 hours and Bill Gates become a devotee of Warren Buffett.
HIS ADVICE TO YOUNG PEOPLE:
“Stay away from credit cards (bank loans) and invest in yourself and remember:
– Money doesn’t create man but it is the man who created money.
– Live your life as simple as you are.
– Don’t do what others’ say, just listen to them, but do what you feel is good.
– Don’t go on brand name; just wear those things which you feel comfortable.
– Don’t waste your money on unnecessary things; just spend on them who are really in need.
-After all, its your life, then why give chance to others to rule our life?
– Excerpts from CNBC Interview