10 Reasons We Love Warren Buffett

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
Buffett doesn’t keep a computer at his desk. Additionally, he opts for a flip phone rather than a smartphone like most Americans. While it could be that he is simply an octogenarian and doesn’t hold an interest in technology, he may be eliminating those distractions before they have a chance to get in the way.
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.

At this point, it’s no surprise to hear that Warren Buffet eats like a 6 year old— it has become kind of an infamous fact. Buffett eats about 2,700 calories a day, which is not much above the average, but promises that at least 1/4 of those calories will be Coca-Cola! The billionaire supplements with other various junk foods, most from companies he has invested in, such as chocolate chip ice cream, potato straws, and cheetos.
“If I eat more than 2,500 calories a day, I’m going to gain weight. If I eat less than 2,500 a day I’m going to lose weight. I’d like to choose the 2,500 calories that I eat,” he comments.
6) His Optimism
Buffett has always had a general optimism in regards to life, specifically when it comes to modern America. Once, when asked what makes him so optimistic, he listed a few modern day luxuries— education, transportation, and medicine to name a few.

“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
Even as one of the wealthiest men alive, Buffett doesn’t think you should be taking jobs just to get ahead financially. What’s really important to him is doing something that makes you happy.
“I think you are out of your mind if you keep taking jobs that you don’t like because you think it will look good on your resume,” he comments. “At 85, I tap dance to work every day. I get to do what I love with the people that I 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.”

 

 

 

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