#101 Warren Buffett (The Tao of Warren Buffett)

Father's Influence

Warren Buffett's father played a pivotal role in shaping his personal and professional life. Warren admired his father greatly, learning from both his strengths and mistakes, which instilled in him a strong sense of confidence and self-worth. This admiration was not shared with his mother, who was hypercritical and less supportive. Warren reflects on the invaluable gift of having a father who taught by example and had unwavering confidence in him, even during his rebellious teenage years 1.

The best gift I was ever given was to have the father I had when I was born.

--- Warren Buffett

This profound influence is something Warren aspires to emulate for his own children.

   

Habit Formation

Habits have been a cornerstone of Warren Buffett's success, both personally and professionally. Initially, his investment strategy focused on buying undervalued stocks, a habit he maintained until it was no longer viable. Influenced by Charlie Munger, Warren shifted to investing in exceptional businesses, a change that significantly increased his wealth 2.

The chains of habit were too light to be felt.

--- Warren Buffett

This evolution underscores the importance of regularly assessing and adjusting one's habits to align with long-term goals 3.

   

Trusting Judgment

Warren Buffett emphasizes the importance of self-reliance and trusting one's judgment, a principle he learned from Henry Singleton. Warren believes in thinking independently and often isolates himself to focus on his ideas, rather than seeking validation from others. This approach has been crucial in his investment decisions, allowing him to stand apart from the crowd 4.

My idea of a group decision is to look in the mirror.

--- Warren Buffett

Warren's ability to trust his own judgment has been a key factor in his success, mirroring the self-reliance seen in other successful figures like Kanye West in their respective fields.