Warren buffett and bill gates
What do you advice for people starting out in the society who is a little confuse on where to go ?
Bill : for me, I was lucky I got started very early as in I was kind of obsess with what I do
Buffett: marry the right person, it will trigger all your inspiration and change u as a person
Work not for the dollar but for someone (or company) who you really admire
And read everything again and again and again
And do that not for the money and you can truly enjoy what you do.
Alternative energy good area to invest >?
Bill : Not because we really do not know which one is the one to help us create the power we need, nuclear, wind, solar etc not enough r n d is done but one will emerge which is going to save us time cost and do no harm to the environment.
Investing
Buffett: Look not at the current situation but at the long term perspective of a company because as long it’s a good business, eventually overtime its going to be bigger as the population demands business grows, so look long term, I dont bother with what happening now, next week, next month, long term perspective.
Burlington rail why?
Buffett: Cos transport is cheaper, more environment friendly, goods are going to be shipped, by rail is far most enconomically, environmental friendly , and efficient
Petrol consumption example of rail and trucks. One rail is = 280 trucks. Etc
when the Country is good, the rail will be good.
What is the qualities that you have compare to others as there so many people who want to become the next bill, buffett etc but most never make it
Bill: PASSION
WE DIDN’T do if for money although we knew we gonna get rich,
Buffet: a correct mentor, my mentor is Benjamin graham , and i got started very early and didn’t let others affect me, i believed in the right mentor, so when everyone esles was starting to oppose what i believe and what my mentor has taught me, i choose to focus only on my mentor teachings and beliefs.
And everyday I look at the mirror and its always agrees with me and I get out doing what I believe in
Business leaders should have what kind of character, and what makes your business so successful ?
Bill: Experience and always thinks on making our business harder for others to compete, making our business unique is important.
Buffett, do this business like a family business and you are not going to sell it, and is going to work on it for 100 years. that is the attitude i have and i share with all my business managers.
Bill, look long term, self confidence, believe that this is going to work out (like I dropped out of Harvard and ask my friends to help me, self confidence) and seized it (opportunity) cause its not going to come along that often
Most important mentors ?
Bill: dad mom, they were lawyers and my dad always share what he doing at work, really learn a lot and people from mensa who shares about the experiences and how they dealt with events in their life
Value investing fundamentals investing is very important but I heard you make a decision over 5 mins on investment in companies
Buffett: laughs ... that’s 50 years of preparation and 5 min of decision
