Author Topic: How has WEB changed your life?  (Read 10792 times)

kiwing100

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How has WEB changed your life?
« on: April 12, 2014, 07:54:41 PM »

There are many of you who have had your lives changed in some way from reading about & learning from Warren Buffett. Just curious about 2 questions:

1. how he has changed your life / how he has positively impacted your life?
2. what lessons have you learnt from Warren Buffett?




jschembs

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Re: How has WEB changed your life?
« Reply #1 on: April 12, 2014, 10:27:58 PM »
Value of deferred taxes.

Kraven

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Re: How has WEB changed your life?
« Reply #2 on: April 13, 2014, 09:04:15 AM »
What can you say about someone who has given so much and taken nothing in return?  How do you breathe a portion of his air?  If he tells you to invest the only appropriate response is "how much?"  I don't know what to say or do that would be a fitting tribute. I would gladly give my life for his.
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Gamecock-YT

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Re: How has WEB changed your life?
« Reply #3 on: April 13, 2014, 10:16:53 AM »
he taught me how to love a woman - and how to scold a child

Liberty

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Re: How has WEB changed your life?
« Reply #4 on: April 13, 2014, 10:58:02 AM »
Very well-said, Kraven.

To me he's one of the best role models out there demonstrating the values of honesty and rationality.
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longinvestor

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Re: How has WEB changed your life?
« Reply #5 on: April 13, 2014, 12:38:53 PM »
Intellectual honesty.
1. Don't say you understand something when you don't. Not even to yourself.
2. Make your own decisions, accept consequences and acknowledge mistakes.

wisdom

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Re: How has WEB changed your life?
« Reply #6 on: April 13, 2014, 01:12:44 PM »
Has impacted me in many ways that I might not even understand yet. I definitely live a far better life as a result.

If all of us can pay it forward, I believe the biggest impact will be as his efforts are compounded through people like us. Will make for a much better world.
« Last Edit: April 13, 2014, 01:14:45 PM by wisdom »

woltac

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Re: How has WEB changed your life?
« Reply #7 on: April 13, 2014, 04:34:32 PM »
Aside from the annual trip to Omaha for the last dozen years or so, Mr. Buffett's influence has given me the ability to retire at a relatively early age.

The lessons that come to mind immediately:
  • Investing Rule #1 Never lose money; Rule #2 Don't forget rule #1
  • Think of stocks as investments in a business rather than investments in a security.
  • Invest in companies that you want to hold forever (still have trouble with this one occasionally)
  • Price is what you pay, value is what you get.
  • Mr. Market analogy as the right way to think about the stock market
  • Insurance float can be an asset, although it is treated as a liability for accounting purposes
There are many, many more lessons.

Palantir

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Re: How has WEB changed your life?
« Reply #8 on: April 13, 2014, 04:42:34 PM »
He taught me it's socially acceptable to have a public mistress. Yowza!
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bizaro86

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Re: How has WEB changed your life?
« Reply #9 on: April 14, 2014, 02:08:35 PM »
He taught me it's socially acceptable to have a public mistress. Yowza!

Did he teach your spouse that too?  8)