Saturday, April 25, 2009

Alice Schroeder on Warren Buffett

Q How has your experience with Buffett changed or shaped your way of thinking, both financially and personally?

A Big topic. Yes, it has. This would be a separate interview if we had the time. I’ll just say that he prods people that he is friends with to lift their aspirations and expecations of themselves. He did that for me. At the same time, when you’re around him, you see how hard he works and you realize that you should not be out there trying to invest by yourself. You should buy an index fund.

All of these books that say you can get rich by investing like Warren Buffett, it’s a bunch of baloney. You can’t do it. He’s not only brilliant, but he works like a demon from morning until night and he’s been doing that for 70 years. So, when you see him and you’re around him, you realize the futility of trying to replicate his achievement. It can’t be done. But, at the same time, he lifts your aspirations in many other areas, including being extremely good at whatever it is you are good at. He made me far more focused in my career. He convinced me I could write. I didn’t know I could write.

[via brknews]

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