Warren Buffett is famous for many things, primarily his financial successes with investing. While it’s easy to get caught up in his advice and what has made him so successful, it’s good to remember why we love him! At 86 years old, Warren Buffett hasn’t missed a beat. His wit, committed addiction to Coca-Cola, and straightforward advice are among many of the reasons we love him!
1) He’s America’s Top Philanthropist
In June of 2006 Warren Buffett announced his plans to give 85% of his fortune away to charity, which equates to about 37 billion, in the form of Berkshire Hathaway stock. More than 80% of the 37 billion was promised to the Bill & Melinda Gates Foundation, but many more will benefit— namely charities started by his own family members. This was the largest act of charitable giving in the history of the United States. Since the announcement in 2006, Buffett has distributed more than $24 billion in stock.; Before the donations began, Buffett owned 32.3% of Berkshire’s stock and now he owns about 18%.
2) His Simple Advice
Buffett is considered by many the greatest investor of all time, and therefore a lot of people look to him for advice. One of my favorite things about Buffett, other than the abundance of advice he has to offer, is the simplicity of it. He never fabricates, he cuts to the chase and tells you exactly what you need to know.
“The first rule of investing is don’t lose money; the second rule is don’t forget rule number 1.”
“Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.”
Pretty self explanatory, right?
3) His Lack of Technology
4) His Number One Investment
“Generally speaking, investing in yourself is the best thing you can do. Anything that improves your own talents; nobody can tax it or take it away from you. They can run up huge deficits and the dollar can become far less. You can have all kinds of things happen. But if you’ve got talent yourself, and you’ve maximized your talent, you’ve got a tremendous asset that can return ten-fold,” Buffett explains.
Buffett is a huge advocate for always improving yourself. He thinks that you should surround yourself with people better than you, and then aspire to become that great— some of their behaviors should rub off on you naturally.
5) His Love of Junk Food
6) His Optimism
“Many Americans believe that their children will not live as well as they themselves do. That view is dead wrong. The babies being born in America today are the luckiest crop in history,” Buffet asserted in his 2015 shareholders letter, displaying his optimism for our country.
7) He Always Thinks Ahead
In his 2014 letter to shareholders, Buffett offers some sound advice about thinking ahead. He explains that too many people jump on the bandwagon and don’t consider long term outcomes. Buffett says that gets people into trouble, and instead advises to invest in something that has a multi-decade outlook.
“Someone is sitting in the shade today because someone planted a tree a long time ago,” he commented, putting in perspective how planning for your future can benefit you.
8) He’s Witty
In Buffett’s annual letters to shareholders, and even when offering advice, he typically contains some touches of humor that we can’t help but love. In fact, in this years letter, Buffett jokingly mentioned he isn’t quite ready for Tinder—something quite a bit of the younger generations will probably get a good laugh at.
Buffett also offers a humorous explanation for his poor eating habits, and says he once checked the stats and the lowest death rate happens to be for six year olds, so the safest way to stay alive is to have the same practices.wi
If you always find yourself laughing at Buffett’s jokes, check out this video compilation.
9) He Thinks You Should Do What You Love
10) His Modest Home
Buffett still lives in the home he purchased for $31,500 in 1958. The home sports 5 bedrooms, and allows Buffett to remain in his hometown of Omaha, Nebraska. $31,500 in 1958 translates to about $260,000 of today’s dollars when you factor in inflation, though the home was recently appraised for just under $1 million. “My life couldn’t be happier. In fact, it’d be worse if I had six or eight houses. So, I have everything I need to have, and I don’t need any more because it doesn’t make a difference after a point.”
This is the best example for Buffett’s frugal lifestyle, in which he doesn’t spend a lot on material or luxury items. In fact he once said, “Most toys are just a pain in the neck.”