Hey everyone, this week we’re talking Buffett vs Soros in a no-holds-barred, bare knuckle bout of distinguished investment experts.
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I’d encourage anyone that wants to learn more to skim through ‘The Intelligent Investor’ by Benjamin Graham - I frequently revert to the fundamental lessons taught when investing, handling emotions from ups & downs (important!), or interpreting the market. I’d say the Buffett/Graham investment philosophy should be the core of most investors portfolio’s! 
I’ll caveat that I completely ignore it when I feel there’s a real opportunity and chase a hot stock! Warren Buffett quotes it as the most read, but least listened to book in investing! I think that’s accurate…
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Bumping this. Thanks for that blog post back in 2018 @Freetrade_Team .
Buffett turned 89 on Friday. CNBC shared six of his life advice pieces:
1. Marry the right person 
“You want to associate with people who are the kind of person you’d like to be. You’ll move in that direction,”…“And the most important person by far in that respect is your spouse. I can’t overemphasize how important that is.”
“Marry the right person. I’m serious about that. It will make more difference in your life. It will change your aspirations, all kinds of things.”
2. Invest in yourself 
“…learn to communicate better both in writing and in person. ”
“You get exactly one mind and one body in this world, and you can’t start taking care of it when you’re 50. By that time, you’ll rust it out if you haven’t done anything.”
3. Associate yourself with ‘high-grade people’ 
You are who your friends are (and friends of friends of friends).
“One of the best things you can do in life is to surround yourself with people who are better than you are,”
“If you hang around with people who behave worse than you, pretty soon you’ll start being pulled in that direction. That’s just the way it seems to work.”
4. Work for people you respect 
“Try to work for whomever you admire most,”
“You don’t want to take a job just for the money,”
5. Ignore the noise 
By the way, Berkshire Hathaway is not based in NY or London or Tokyo. Far away from the noise of Wall St.
“Don’t watch the market closely,” … “If they’re trying to buy and sell stocks, and worry when they go down a little bit … and think they should maybe sell them when they go up, they’re not going to have very good results.”…
“As long as you are invested appropriately for your goals, stay away from your investment portfolio,”…
"“When market volatility picks up, your portfolio can get unbalanced, which means you may be taking more or less risk than you think.” (source)
“I don’t pay any attention to what economists say, frankly,” … “If you look at the whole history of [economists], they don’t make a lot of money buying and selling stocks, but people who buy and sell stocks listen to them. I have a little trouble with that.”
6. Success isn’t measured by money 
“Being given unconditional love is the greatest benefit you can ever get,”
“The incredible thing about love is that you can’t get rid of it. If you try to give it away, you end up with twice as much, but if you try to hold onto it, it disappears. It is an extraordinary situation, where the people who just absolutely push it out, get it back tenfold.”
Source - https://www.cnbc.com/2019/08/31/billionaire-investor-warren-buffetts-best-advice.html
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Hey all, in all seriousness, if anyone has experience in this, please share here for us who haven’t been married. This is related to becoming good at investing - not off topic Making investment decisions as a couple, buying a house, sharing accounts, etc.
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Yes, I’ve been burned badly before. My girlfriend at the time, Susie, and I were making a sand pile. I came back from breaktime to learn that she’d given half of it away to someone else. It taught me a valuable life lesson, don’t aggregate your finances.
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Yes, having similar overall goals for life is very important as is understand each other’s nuances and default attitude to finances. My other half and I have. A quarterly review where we discuss our personal goals/targets for the next 3 months along with our financial position, upcoming spends, longer term goals/targets etc. This allows us to move forwards in the same direction, working together to achieve our joint goals and supporting each other to achieve our personal goals.
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