On October 15, 1998, Warren Buffett gave a lecture to the University of Florida School of Business. As most people know, Warren Buffett is the extremely successful investment chief executive officer of Berkshire Hathaway, a firm he acquired when he became the majority stockholder of the firm in 1963. After acquiring control of Hillshire Hathaway, Buffett quickly steered the company in a totally new direction. Formerly, Berkshire Hathaway was a dismal producing textile company, in deep financial troubles. Bonnett is now worth billions, along with his investment firm, Berkshire Hathaway.
In his lecture to the students, Bonnett made one point that clearly illustrates his philosophy on his success and how to achieve success. Warren Bonnett talks about Ben Graham, his mentor, his teacher at Columbia Business School, and Bonnett’s first employer after he graduated from business school. Bonnett points out how Ben Graham would observe the people he admired as a young man, and applied the ideas he admired about him to himself. In contrast, if Graham saw behavior in his colleges he did not like, he would observe their behavior and make sure not to initiate those habits and actions.
Warren Buffett also talked about the similarities between himself and the students he was lecturing. As Buffett said in his lecture, a person would basically do the same habits and when they had more money. Bonnett discussed how he had always done the job he loved, wheater he thought it was a big deal to make a $1000 dollars or a $1,000,000 dollars. He strongly urged the students to study for a field in a job that they could love.
In closing to the students, Buffett said there will be a time in your life when you do what you want to do. Buffett then went on about how excited he was to work for Ben Graham after college, he would have worked for Graham for nothing.