Some of us may be new to investments in the stock market; others may have become experts already. But one thing is for sure, we all want to make profits in the stock market. However, some people have already been there and have made a fortune from investments. When you talk about those few people that have made billions of profits in the stock market, one popular name comes to mind. Popularly known as the wizard of investment, Warren Buffett needs no introduction. As one of the richest men in the world, he has been recognized across the globe.
As the CEO of Berkshire Hathaway, Warren Buffett is a very successful name, no matter how you look at it. After all, nobody becomes a billionaire overnight, right? He may be eighty-nine years old and born in Nebraska; Warren Buffett is widely regarded as one of the best investors to walk the face of the earth. His network is almost similar in number to his age, except for the billion part, of course.
Warren Buffet is worth almost ninety billion dollars, thanks to a conglomerate that operates and owns more than sixty companies. Have you ever wondered how one man is able to do so much even at his age? Well, stick with me because you are about to find out answers to that question.
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Key Insights Into Warren Buffett
Let us go straight to business. We will be looking at the daily routine of the world’s fourth-richest man and one of the best investors of our time. This great investor, philanthropist, and business tycoon spends more than eighty percent of his time deep in his books. He spends so much time reading that you would think that the books give him that much money. Well, one way to look at it is the books he reads expands his horizon and gives his vast knowledge on different matters.
His wake-up time is mostly 6:45 a.m. Well, some would say that he does not wake up early enough. But you need to consider the age factor and individual differences. He once said, “I have no desire to wake up too early.” However, it does not affect his managerial and investment abilities. He works out as little as he can and does not like to eat breakfast at home. Presumably, his love for McDonald’s is lifelong. With a structured menu, he chooses which diets suit his daily appetite. That would go a long way to highlight his level of organization. A junk lover that always prefers to pay in cash, Warren Buffett has the appetite of a young child.
Just as he loves McDonald’s, he also has a great love for Coca-Cola, one of the companies he partly owns. His love for the product is so great; he consumes about five cans daily. From McDonald’s after breakfast, the billionaire heads straight to his office. He usually arrives at, say, 9:30 a.m daily, around the same time the stock market opens. Is that a coincidence? No, I don’t think so because the stock market is his second home. He is a prudent spender, and his desk and some other equipment have been in use for years. Straight to business, he continues reading. He has a target of five newspapers daily.
One of his favorite newspapers is the Omaha World-Herald, a company he acquired in 2011. He believes knowledge works by reading about five hundred pages daily. To him, reading prevents him from making impulsive business decisions. The organization extends to reading as his materials are separated into newspapers, financial statements, and other books. When reading, he stays away from distraction. “The Wealth of Nations” by Adam Smith and “The Intelligent Investor” by Benjamin Graham are two of his favorites.
He is not a big fan of meetings, but when he does attend, the meetings have to be brief and straight to the point. After hours of reading, brief meetings, and analyzing the behaviors of the stock market, Warren Buffett drives his car home. His billionaire buddy, Bill Gates, always keeps him busy with card games that test and boost their intellects. He spends hours weekly playing this game, and he really loves it. In fact, his love for the game has benefited people through lucrative competitions. He also plays some instruments like the ukulele.
He even performs at meetings and events, playing his instrument with a lot of joy. Instead of acquiring luxury cars, mansions, and otherworldly things, Warren prefers to donate to charity. He is arguably one of the biggest philanthropists in the world today. Who knows? He may have dragged his buddy Bill Gates into that habit. He plays golf, but only with people, he knows well instead of those found on fancy golf courses. His money management skills are evident in the fact that his costliest item is the private jet he acquired. Why? Because he is on constant business travels. His love for sports is evident, and he always urges his staff to share in that love with the promise of gifts and prizes that are truly amazing.
On Sundays, Warren treats kids to an amazing ice-cream party. However, it is part of his business strategies, as is everything else. After a day’s work, he retires to bed at about 10:45 p.m., and this routine is something of a ritual because he hardly ever misses it. With the stipulated eight hours of sleep, the billionaire wakes up the next morning all fired up to make more money.
As a man, he has faced his own share of setbacks in different areas of his life. From rejection into Harvard school to lack of belief from some of his family members, Warren shows us that you can be great no matter the present circumstances. Patience is both the ability to wait and what you do while you wait… Warren Buffett taught us that.
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Recommended for further reading:
- Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week
- The Five Rules Successful Stock Investing: Morningstar’s Guide to Building Wealth and Winning in the Market
- Investing Demystified: How to create the best investment portfolio whatever your risk level
- Investing QuickStart Guide: The Simplified Beginner’s Guide to Successfully Navigating the Stock Market, Growing Your Wealth & Creating a Secure Financial Future
- The Barefoot Investor: The Only Money Guide You’ll Ever Need