Bill Gates on what he learned from Buffett in 1996
"When you are with Warren, you can tell how much he loves his work. When he explains stuff, it’s never “Hey, I’m smart about this, I’m going to impress you.” It’s more like “This is so interesting and it’s actually very simple..
"When you are with Warren, you can tell how much he loves his work. When he explains stuff, it’s never “Hey, I’m smart about this, I’m going to impress you.” It’s more like “This is so interesting and it’s actually very simple..
I’ll just explain it to you and you’ll realize how dumb it was that it took me a long time to figure it out.”
And when he shares it with you, using his keen sense of humor to help make the point, it does seem simple."
And when he shares it with you, using his keen sense of humor to help make the point, it does seem simple."
"Whenever somebody says to me, “Meet so-and-so; he’s the smartest guy ever” my defenses go up. People overestimate the merit of that to which they’ve been exposed. So the fact that people called Warren Buffett unique didn’t impress me much.
I was extremely skeptical when my mother suggested I take a day away from work to meet him in 1991. What were he and I supposed to talk about, P/E ratios? I mean, spend all day with a guy who just picks stocks? Especially when there’s lots of work to do? Are you kidding?"
"Warren and I began talking about how the newspaper business was being changed by the arrival of retailers who did less advertising.
Then he started asking me about IBM: “If you were building IBM from scratch, how would it look different? What are the growth businesses for IBM?
Then he started asking me about IBM: “If you were building IBM from scratch, how would it look different? What are the growth businesses for IBM?
He asked good questions and told educational stories. There’s nothing I like so much as learning, and I had never met anyone who thought about business in such a clear way."
"He introduced me to an intriguing analytic exercise.
He’ll choose a year—say, 1970—and examine the ten highest market-capitalization companies from around then. Then he’ll go forward to 1990 and look at how those companies fared. His enthusiasm for the exercise was contagious."
He’ll choose a year—say, 1970—and examine the ten highest market-capitalization companies from around then. Then he’ll go forward to 1990 and look at how those companies fared. His enthusiasm for the exercise was contagious."
"Warren and I have the most fun when we’re taking the same data that everybody else has and coming up with new ways of looking at them that are both novel and, in a sense, obvious."
"One habit of Warren’s that I admire is that he keeps his schedule free of meetings. He’s good at saying no to things. He knows what he likes to do. He likes to sit in his office and read and think. There are a few things he’ll do beyond that, but not many."
"Warren stays away from technology companies because he likes investments in which he can predict winners a decade in advance—an almost impossible feat when it comes to technology.
Unfortunately for Warren, the world of technology knows no boundaries."
Unfortunately for Warren, the world of technology knows no boundaries."
"Being good with numbers doesn’t necessarily correlate with being a good investor. Warren doesn’t outperform other investors because he computes odds better. He doesn’t invest—take a swing of the bat—unless the opportunity appears unbelievably good."
"I think his dietary practices—lots of burgers and Cokes—are excellent. In short, I’m a fan."
Yeah, ok sure😂
Yeah, ok sure😂
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