I always worry about people who say you
know I’m gonna do this for ten years I
really don’t like it very well no these
10 more years he doesn’t present I mean
that’s a little like saving up sex for
your old age you can choose what kind of
a person you can be why not be the
person you admire rather than the person
you can’t stand it so simple you will
move in the direction of the people that
you associate with wanna soar get a
mentor what’s up bleep nation its Evan I
believe in you and this channel is
designed to be a part of your daily
success routine so today let’s learn
from one of the best Warren Buffett and
some of his best life-changing advice
mentor me Warren also if you want to
know war and other successful
entrepreneurs have to say about building
unstoppable confidence check out my 250
for confidence series where every day
for the next 254 days I will send you a
morning video for free to help you build
your confidence the link to join is in
the description below it’s important
associate with people who are better
[Music]
okay let’s kick it off with rule number
one do what you love I was wondering how
you define success personally well I can
certainly define happiness because
that’s what that’s what I am I mean I I
and if I mean I get to do what I like to
do every single day of the year I get to
do it with people I like I get that I
get to I don’t have to associate with
anybody causes my stomach to churn and
the only thing it might get a job I
don’t like and it’s only happens about
every three or four years occasionally I
have to fire somebody and I don’t like
that’s the only thing other than I tap
dance to work and I get down there and I
think I’m supposed to lie on my back and
paint the ceiling you know or something
I mean yeah that’s where I feel and I’ve
been and it doesn’t diminish its it’s
tremendous fun so you know if they say
that success is getting what you want
and happiness is wanting what you get
well I don’t know which one applies in
this case but I I do know that I
wouldn’t be doing anything else
something that I do advise you you know
and when you got to work go to work for
an organization that you admire people
you admire because it’ll it’ll it’ll
turn you on and and and you ought to be
happy where you are working and I always
worry about people who say you know I’m
gonna do this for 10 years I really
don’t like it very well be 10 more years
ago so but I mean that’s a little
exciting up sex for your old age I mean
a very good idea so get right in get
right into what you enjoy you know and
and you’ll be successful at it really
well I mean you won’t be able to miss
and you know that’s I don’t regard what
I do is the most important thing in the
world at all but it’s right for me I
mean I happen to be wired in a certain
way that what I do works in this if I
had to do what you know bill does I mean
last about 10 minutes and let’s troupe a
lot of things but I luckily I kind of
stumbled into the thing that I I do best
and and that you know that it’s worked
out boom rule number 2 be the person you
want to be if you look around you at the
people you admire you know they have
certain qualities I mean you’ve got
you’ve got friends why do you like them
you know generally you know that they
generally they have an upbeat attitude
on life generally they’re generous
people they’re humorous people there are
people that do more than their share
there are people that are thinking about
something nice they can do for you and
all of those qualities attract you and
none of those are our innate at Birth I
mean you you can acquire those and then
there’s other people that turn you off
you know and they have habits they take
credit for things they didn’t do they
don’t show up on time whatever it may be
they’re little dishonest about things
and if you’re looking at your life at a
young age like you are and you can
choose what kind of a person you can be
why not be the person you admire rather
than the person you can’t stand it so
simple so just write down the qualities
you like to take you to take your five
best friends why do you like them and
just write down those qualities and you
will find there’s no quality there that
you can’t have yourself and similarly
with the five people you can’t stand to
be around but those put those things
down to turn you off about those people
and if they turn you off about them why
should you possess them you’re gonna
hear it’s so simple you know it’s it’s
not it’s it’s not like it’s not like
something complicated that you think you
should be learning educated as investing
in the stock market but it’s it’s
enormous ly important to have people
work with you in life they’re gonna work
with you in life if they like you you
know and they may occasionally I mean if
you’re in the army or something you know
you may work for somebody that you don’t
like
but by-and-large you’re gonna get the
best out of people if they feel good
about you and it’s just so easy but
you’ve got to develop the habits early
because you can’t say I’m gonna suddenly
become a terribly attractive person when
I’m 60 it just doesn’t work that way so
pick up the right habits now and I will
guarantee you if you actually just write
down those qualities and think about it
you will find you can have every one of
the attractive qualities get rid of the
ones that are are negative and your life
will be different rule number three
don’t care what others think it never
bothered me if people disagreed with
what I thought as long as I thought I
knew the facts I mean I there’s a whole
bunch of things I don’t know think about
I just stay away from those so I stay
within what I call my circle of
competence you know that Tom Watson said
it best he said you know he said he said
I’m no genius but I’m smart in spots and
I stay around those spots well I try and
stay around those spots and I I just
don’t have a problem if somebody says
you know you’re wrong on something I
just go back and look at the facts and I
think that I think that really is much
more important frankly than having a few
points of IQ or having an extra course
or two in school or anything of the sort
you need emotional stability rule number
four surround yourself with great people
you will move in the direction of the
people that you associate with so I it’s
important to associate with people that
are better than yourself and actually
the most important decision many of you
make not all of you will be the spouse
you’re choosing and you really you want
to associate with people who are the
kind of person you’d like to be and
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
you’re right they’re the friends you
have they will form you as you go
through life and make some good friends
keep them for the rest of your life but
have them be people that you admire as
well as Wykeham rule number five
I should mention one thing about reading
it was at the library here at Columbia I
wish I spent probably more time than any
other soon
I lived there particle II but then I
pulled the book out there happen to be
who’s an American that told me something
about my professor Benjamin where I am
and then I looked up and I went to the
library and I said I want to learn more
about this because I learned this over
here that changed my whole life
you know we owned I go now because of
that library and directing me does some
other book and then following through on
that I think it’s the chance I read
about one-fifth the pace
the bill does but I still spend five or
six hours a day reading I made it just
you can learn so much I particularly
love biography just you know to be able
to live the lives of these people have
been extorted it seemed so extraordinary
in the lessons of oath you know the
discouragements they face just
everything about it so I did you can’t
get enough of reading and rule number
six the last one before a very special
bonus clip is learned from mistakes a
lot of mistakes mistake not the biggest
necessarily the biggest but but buying
berkshire hathaway itself was a mistake
because berkshire was a lousy textile
business and I brought it very cheap
I’ve been taught by Ben Graham to buy
things on a quantitative basis look
around for things that are cheap and
that I was taught that and say in 1949
or say they made a big impression on me
so I went around looking for what I call
you cigar butts of stocks and the cigar
butt approach to buying stocks is that
you walk down the street and you’re
looking around for cigar butts and you
find this honestly this terrible looking
soggy ugly looking cigar the one puff
left in it but you pick it up and you
get your one puff disgusting it’s thrown
away but it’s free
I mean is she
you look around for another soggy you
know one puff cigar
well that’s what I did for years it’s a
mistake oh you make money doing it but
he can’t make it with big money it’s so
much easier just by wonderful businesses
so now I would rather buy a wonderful
business at a fair price than a fair
business at a wonderful price but in
those days I was buying cheap stocks and
Berkshire was selling below its working
capital for sure he had the plants for
nothing he had the machinery for nothing
he got the inventory of receivables of
the discount it was cheap so I bought it
and 20 years later I was still running a
lousy business and that money did not
compound you really want to be in a
wonderful business because there that
time is the friend of the wonderful
business you keep compounding it keeps
doing more business and you keep making
more money
tiya is the enemy of the lousy business
I could have sold Berkshire perhaps
liquidated it and made a quick little
profit you know one puff but staying
with those kind of businesses is a big
mistake so you might say I learned
something out of that mistake and I
would have been way better off taking
what I did with Berkshire as I kept
buying but better businesses I started
insurance business See’s candy the
Buffalo and all kinds think I would have
been way better doing that with a with a
brand new little entity that I’d set up
rather than using Berkshire at the
platform now I’ve had a lot of fun out
of it I mean everything in life seems to
turn out for the better so I don’t have
any complaints about that but it wasn’t
dumb thing to do I went in the US air
I bought a preferred stock in 1989 as
soon as my Gen cleared the company went
into the red never got out I mean it was
a really dumb I mean it had I’ve got an
800 number I call now whenever I think
about buying an airline stock I call him
up any hour that fortunately I call him
at 3 in the morning and I just dial and
I say my name is Warren I’m an arrow
like and I’m thinking about flying this
thing and then they talk me down I mean
these hours sometimes but it’s worth it
you ever think about that era of buying
an airline stock call me and I’ll give
you the 800 number because a
but we got lucky in terms of how we
eventually came out on but it was a dumb
now I’ve got a really special bonus gift
from Warren on how to have the right
heroes that I think you’re gonna really
enjoy but before that it’s time for the
three-point landing question it’s time
to move from just watching another video
to actually taking action in your life
or your business and if you’re feeling
bold leave your answers in the comments
below here we go question number one
what’s the biggest lesson that you have
learned from your mistakes number two
how can you read more to make that
lesson more powerful and number three
who do you need to surround yourself
if you tell me who your heroes are I
could tell you how you’re going to turn
out to quite an extent that by this
point in life and III have been
extraordinarily lucky and that none of
my heroes ever let me down I mean I the
ones I came up with throughout their
lives that I’ve never felt that I’ve
been let down in any way with and number
one was my dad and and had a huge
impression on me my wife who was heroes
is one of my heroes I mean she is you
know in terms of she’s taught me a
tremendous amount and then never seen
anybody any better with human beings and
she is and you can Yogi Berra again said
you can you can observe a lot just by
watching and I you know I I watched my
dad and I have watched her and I had a
professor Ben Graham back at Columbia
and had a huge impact on myself I have
been lucky and then I’ve had terrific
heroes and they haven’t let me down and
and that that takes you a long long way
I’ve gone through one or two periods
word that we’re kind of tough in life
but not any I mean everybody had had
that but what having the right heroes
will take it right through it if you had
to think of one word that’s most
important to you or that sums you Apple
if you want more war and check out the
investment and advise strategy video I
made the link is right there next to me
I think you’ll enjoy it continue to
believe and I’ll see you there
I know that you always want to be sure
you have enough I mean you’re sure it’s
around but you don’t even have a possible route
know I’m gonna do this for ten years I
really don’t like it very well no these
10 more years he doesn’t present I mean
that’s a little like saving up sex for
your old age you can choose what kind of
a person you can be why not be the
person you admire rather than the person
you can’t stand it so simple you will
move in the direction of the people that
you associate with wanna soar get a
mentor what’s up bleep nation its Evan I
believe in you and this channel is
designed to be a part of your daily
success routine so today let’s learn
from one of the best Warren Buffett and
some of his best life-changing advice
mentor me Warren also if you want to
know war and other successful
entrepreneurs have to say about building
unstoppable confidence check out my 250
for confidence series where every day
for the next 254 days I will send you a
morning video for free to help you build
your confidence the link to join is in
the description below it’s important
associate with people who are better
[Music]
okay let’s kick it off with rule number
one do what you love I was wondering how
you define success personally well I can
certainly define happiness because
that’s what that’s what I am I mean I I
and if I mean I get to do what I like to
do every single day of the year I get to
do it with people I like I get that I
get to I don’t have to associate with
anybody causes my stomach to churn and
the only thing it might get a job I
don’t like and it’s only happens about
every three or four years occasionally I
have to fire somebody and I don’t like
that’s the only thing other than I tap
dance to work and I get down there and I
think I’m supposed to lie on my back and
paint the ceiling you know or something
I mean yeah that’s where I feel and I’ve
been and it doesn’t diminish its it’s
tremendous fun so you know if they say
that success is getting what you want
and happiness is wanting what you get
well I don’t know which one applies in
this case but I I do know that I
wouldn’t be doing anything else
something that I do advise you you know
and when you got to work go to work for
an organization that you admire people
you admire because it’ll it’ll it’ll
turn you on and and and you ought to be
happy where you are working and I always
worry about people who say you know I’m
gonna do this for 10 years I really
don’t like it very well be 10 more years
ago so but I mean that’s a little
exciting up sex for your old age I mean
a very good idea so get right in get
right into what you enjoy you know and
and you’ll be successful at it really
well I mean you won’t be able to miss
and you know that’s I don’t regard what
I do is the most important thing in the
world at all but it’s right for me I
mean I happen to be wired in a certain
way that what I do works in this if I
had to do what you know bill does I mean
last about 10 minutes and let’s troupe a
lot of things but I luckily I kind of
stumbled into the thing that I I do best
and and that you know that it’s worked
out boom rule number 2 be the person you
want to be if you look around you at the
people you admire you know they have
certain qualities I mean you’ve got
you’ve got friends why do you like them
you know generally you know that they
generally they have an upbeat attitude
on life generally they’re generous
people they’re humorous people there are
people that do more than their share
there are people that are thinking about
something nice they can do for you and
all of those qualities attract you and
none of those are our innate at Birth I
mean you you can acquire those and then
there’s other people that turn you off
you know and they have habits they take
credit for things they didn’t do they
don’t show up on time whatever it may be
they’re little dishonest about things
and if you’re looking at your life at a
young age like you are and you can
choose what kind of a person you can be
why not be the person you admire rather
than the person you can’t stand it so
simple so just write down the qualities
you like to take you to take your five
best friends why do you like them and
just write down those qualities and you
will find there’s no quality there that
you can’t have yourself and similarly
with the five people you can’t stand to
be around but those put those things
down to turn you off about those people
and if they turn you off about them why
should you possess them you’re gonna
hear it’s so simple you know it’s it’s
not it’s it’s not like it’s not like
something complicated that you think you
should be learning educated as investing
in the stock market but it’s it’s
enormous ly important to have people
work with you in life they’re gonna work
with you in life if they like you you
know and they may occasionally I mean if
you’re in the army or something you know
you may work for somebody that you don’t
like
but by-and-large you’re gonna get the
best out of people if they feel good
about you and it’s just so easy but
you’ve got to develop the habits early
because you can’t say I’m gonna suddenly
become a terribly attractive person when
I’m 60 it just doesn’t work that way so
pick up the right habits now and I will
guarantee you if you actually just write
down those qualities and think about it
you will find you can have every one of
the attractive qualities get rid of the
ones that are are negative and your life
will be different rule number three
don’t care what others think it never
bothered me if people disagreed with
what I thought as long as I thought I
knew the facts I mean I there’s a whole
bunch of things I don’t know think about
I just stay away from those so I stay
within what I call my circle of
competence you know that Tom Watson said
it best he said you know he said he said
I’m no genius but I’m smart in spots and
I stay around those spots well I try and
stay around those spots and I I just
don’t have a problem if somebody says
you know you’re wrong on something I
just go back and look at the facts and I
think that I think that really is much
more important frankly than having a few
points of IQ or having an extra course
or two in school or anything of the sort
you need emotional stability rule number
four surround yourself with great people
you will move in the direction of the
people that you associate with so I it’s
important to associate with people that
are better than yourself and actually
the most important decision many of you
make not all of you will be the spouse
you’re choosing and you really you want
to associate with people who are the
kind of person you’d like to be and
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
you’re right they’re the friends you
have they will form you as you go
through life and make some good friends
keep them for the rest of your life but
have them be people that you admire as
well as Wykeham rule number five
I should mention one thing about reading
it was at the library here at Columbia I
wish I spent probably more time than any
other soon
I lived there particle II but then I
pulled the book out there happen to be
who’s an American that told me something
about my professor Benjamin where I am
and then I looked up and I went to the
library and I said I want to learn more
about this because I learned this over
here that changed my whole life
you know we owned I go now because of
that library and directing me does some
other book and then following through on
that I think it’s the chance I read
about one-fifth the pace
the bill does but I still spend five or
six hours a day reading I made it just
you can learn so much I particularly
love biography just you know to be able
to live the lives of these people have
been extorted it seemed so extraordinary
in the lessons of oath you know the
discouragements they face just
everything about it so I did you can’t
get enough of reading and rule number
six the last one before a very special
bonus clip is learned from mistakes a
lot of mistakes mistake not the biggest
necessarily the biggest but but buying
berkshire hathaway itself was a mistake
because berkshire was a lousy textile
business and I brought it very cheap
I’ve been taught by Ben Graham to buy
things on a quantitative basis look
around for things that are cheap and
that I was taught that and say in 1949
or say they made a big impression on me
so I went around looking for what I call
you cigar butts of stocks and the cigar
butt approach to buying stocks is that
you walk down the street and you’re
looking around for cigar butts and you
find this honestly this terrible looking
soggy ugly looking cigar the one puff
left in it but you pick it up and you
get your one puff disgusting it’s thrown
away but it’s free
I mean is she
you look around for another soggy you
know one puff cigar
well that’s what I did for years it’s a
mistake oh you make money doing it but
he can’t make it with big money it’s so
much easier just by wonderful businesses
so now I would rather buy a wonderful
business at a fair price than a fair
business at a wonderful price but in
those days I was buying cheap stocks and
Berkshire was selling below its working
capital for sure he had the plants for
nothing he had the machinery for nothing
he got the inventory of receivables of
the discount it was cheap so I bought it
and 20 years later I was still running a
lousy business and that money did not
compound you really want to be in a
wonderful business because there that
time is the friend of the wonderful
business you keep compounding it keeps
doing more business and you keep making
more money
tiya is the enemy of the lousy business
I could have sold Berkshire perhaps
liquidated it and made a quick little
profit you know one puff but staying
with those kind of businesses is a big
mistake so you might say I learned
something out of that mistake and I
would have been way better off taking
what I did with Berkshire as I kept
buying but better businesses I started
insurance business See’s candy the
Buffalo and all kinds think I would have
been way better doing that with a with a
brand new little entity that I’d set up
rather than using Berkshire at the
platform now I’ve had a lot of fun out
of it I mean everything in life seems to
turn out for the better so I don’t have
any complaints about that but it wasn’t
dumb thing to do I went in the US air
I bought a preferred stock in 1989 as
soon as my Gen cleared the company went
into the red never got out I mean it was
a really dumb I mean it had I’ve got an
800 number I call now whenever I think
about buying an airline stock I call him
up any hour that fortunately I call him
at 3 in the morning and I just dial and
I say my name is Warren I’m an arrow
like and I’m thinking about flying this
thing and then they talk me down I mean
these hours sometimes but it’s worth it
you ever think about that era of buying
an airline stock call me and I’ll give
you the 800 number because a
but we got lucky in terms of how we
eventually came out on but it was a dumb
now I’ve got a really special bonus gift
from Warren on how to have the right
heroes that I think you’re gonna really
enjoy but before that it’s time for the
three-point landing question it’s time
to move from just watching another video
to actually taking action in your life
or your business and if you’re feeling
bold leave your answers in the comments
below here we go question number one
what’s the biggest lesson that you have
learned from your mistakes number two
how can you read more to make that
lesson more powerful and number three
who do you need to surround yourself
if you tell me who your heroes are I
could tell you how you’re going to turn
out to quite an extent that by this
point in life and III have been
extraordinarily lucky and that none of
my heroes ever let me down I mean I the
ones I came up with throughout their
lives that I’ve never felt that I’ve
been let down in any way with and number
one was my dad and and had a huge
impression on me my wife who was heroes
is one of my heroes I mean she is you
know in terms of she’s taught me a
tremendous amount and then never seen
anybody any better with human beings and
she is and you can Yogi Berra again said
you can you can observe a lot just by
watching and I you know I I watched my
dad and I have watched her and I had a
professor Ben Graham back at Columbia
and had a huge impact on myself I have
been lucky and then I’ve had terrific
heroes and they haven’t let me down and
and that that takes you a long long way
I’ve gone through one or two periods
word that we’re kind of tough in life
but not any I mean everybody had had
that but what having the right heroes
will take it right through it if you had
to think of one word that’s most
important to you or that sums you Apple
if you want more war and check out the
investment and advise strategy video I
made the link is right there next to me
I think you’ll enjoy it continue to
believe and I’ll see you there
I know that you always want to be sure
you have enough I mean you’re sure it’s
around but you don’t even have a possible route
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