Warren Buffett series #8 – bought National Indemnity in 15 minutes - National Indemnity purchase in 15 minutes Warren Buffett is known to make a decision to buy a business in very short period of time. The following is his story of how he bought his first insurance business in less than 15 minutes. Jack Ringwalt, who ran National Indemnity, for every 15 minutes every year would […]
Warren Buffett series #7 – How to calculate intrinsic value of a business - People always want a formula. They go to the Intelligent Investor and think somewhere they are going to find a little formula. It really doesn’t work that way.
Warren Buffett series #6 – Advice to start investing - You can’t look around for people to agree with you. You can’t look around for people to even know what you are talking about. You have to think for yourself.
Warren Buffett series #5 – What to look for when determining if a person is honest or not? - What to look for when determining if a person is honest or not?
Warren Buffett Series #4 – The scuttlebutt method – how to use it to analyze a business - You really want to start with a business where you think the economics are good, where they look like a seven-footer, and then you go out with a scuttlebutt approach to possibly reject your original hypothesis. Or maybe you confirm it.
Warren Buffett series #3 – What teenagers can do to prepare to become an investor? - If you are interested in investments, you should take the accounting courses. You should do a lot of reading and get as much business experience as possible.
Warren Buffett Series #2 – How to be a better investor and a better manager - The checklist that goes through our mind is simple, not complicated. Knowing what you don’t know is important and sometimes that’s not easy. Knowing the future is impossible in many cases, difficult in others, and sometimes relatively easy. We are looking for the ones that are easy.
Warren Buffett series #1 – When you know you are ready to manage other people’s money? - You start very small and get an audited record. Once you get the confidence that if your parents come to you and give you all their money, you will invest for them. Then you are ready.
Superinvestors or super value investors - 1. Think of yourself as owning a business and not buying something that wiggles around in price. 2. Your attitude toward the market. 3. The margin of safety. Don’t try to drive a 9800 pound truck over a bridge that says “Capacity: 10000 pounds.” Go down the road and find one that says “Capacity: 15000 pounds.”
Habit of success: figure out what works and do it - Figure out what works and do it. Figure out what doesn’t work and stops doing it. This is incredibly simple. And yet, like anything simple, it’s incredibly hard to do consistently. When I first learned martial art, I did a lot of things that don’t work. For the last 13 years since I joined Musokai […]