Tuesday, 14 August 2012

Warren Buffett's favourite pastime

One evening, Buffett and his wife Susan had dinner with friends.  Their hosts had just come back from Egypt.

After dinner, as their friends were setting up the slide projector to show him and Susan their pictures of the Pyramids, Buffett announced:

"I have a better idea.  Why don't you show the slides to Susie and I'll go into your bedroom and read an annual report."

Warren Buffett doesn't just enjoy reading annual reports.  It's his favourite pastime.  

"He just had a hobby that made him money.  That was relaxation to him."

A master investor lives and breathes investing 24 hours a day.


Newbie said...

I just wonder what is the point of earning so much profit, so much money if you don't learn to enjoy it.

Investbullbear Investbullbear said...

Frugality is a natural aspect of Buffett's character. But wealth didn't change his natural frugality. It is easy to see how the consequence of living below your means is important when you're starting out. It's the only way you can accumulate capital to invest.

What's less obvious is how this mental habit remains crucial to your investment success even after your net worth has soared into the billions.