Learn to invest with Buffett

Chapter 103

No.17 Chapter 2 Learn from others and learn from others' experience
A person must be able to learn from others and be good at absorbing the experience of others.

--Warren Buffett
Buffett's success largely depends on his attitude of continuous learning and being good at learning.There are three teachers that Buffett admired most in his life: his father Howard Buffett, Benjamin Graham, and Phil Fisher.He said: "Without the influence and enlightenment of these seniors, I would not be as successful as I am today." His father, Howard Buffett, was Buffett's first teacher.He learned the basics of investing in stocks from his father, which established his interest and life goals; Benjamin Graham is an American East Coast scholar and a professor at the Columbia University Business School. Buffett studied under him. Completed the postgraduate study of economics and laid a solid theoretical foundation; Phil Fisher is an excellent investment writer, and he proposed a high-risk qualitative investment strategy that had a huge impact on Buffett.

Buffett has benefited from these two investment masters, and believes that although the investment strategies of the two teachers are different, they lead to the same goal through different routes.Moreover, the influence of the two in the investment world can be described as neck and neck.Buffett not only devotes himself to studying the investment strategies of masters such as Graham and Fisher, but also reads a large number of books and periodicals with a wide range of content.What is commendable is that he is good at renovating other people's experience and theories, injecting his own ideas, and forming his own unique and complete investment theory system in practice.

Buffett regards Graham and Fisher as his "spiritual fathers", and said in a loving and grateful tone: "I am 85% like Graham and 15% like Fisher."

Buffett is indeed a man who learns from others' strong points.He never misses an opportunity to learn.

In fact, Buffett's success, like everyone else's failure, is not because he possesses an innate superpower. “It was very helpful to me,” he explained, “to get thousands of [students] coming out of business school to understand that it doesn’t make sense to think that way.” Buffett is unquestionably brilliant.But the gap between Buffett and other investment professionals has been widened by these people's own thinking, and these people have chosen to play the loser's game, a game that Buffett will not play.

Buffett believes, he believes, that his success was possible because he learned so much from others—by learning from Ben Graham, reading Philip Fisher, and talking to Charlie Munger. work together.The synthesis of the ideas of these three men is considered by many to be the finest financial thinking in recent history. "I don't think I have any novel ideas," Buffett once said. "Of course, I talk about my reading of Graham, and I read Philip Fisher. So, I have a lot of ideas in my reading. ...you can learn a lot from other people. In fact, I think if you basically learn from other people, then you don't have to have a lot of ideas of your own. You just use what you know best That's it."

Learning is a process.Warren Buffett and Charlie Munger learned a great deal from those who came before them, incorporated that knowledge into their own understanding, and now generously offer it to others—those who are clear-headed, energetic, open-minded, and willing People who do their job and learn as much as possible.

As general investors, we learn from Buffett's experience, learn and comprehend their thinking habits and investment beliefs, and you will be able to make continuous progress in investment.Maybe, in the future, you'll see companies imitating his acquisitions, and, knowing how Buffett would do it in similar situations, you'll be ready to profit from his teachings.

Investment is a science. If a person wants to achieve something in the investment market, he must continue to learn.Learn from other people's experience, learn new theories, and learn what you don't understand.Only in this way can we better avoid the traps of the stock market and reduce the risk of investment.Many people always like to use "I'm too young" as an excuse when they complain that they can't succeed.In fact, being young is an excellent condition for you to pursue success.Because you are young, you have strong energy, full of passion for success, and more creative desire; because you are young, you can have time to study hard.Your drive and your diligence can all become factors that others appreciate you.Just like Graham cultivated Buffett.

Of course, to be able to learn something at a young age like Buffett, you must absorb the essence of the wisdom of others and be a smart seeker.Smart seekers are good at asking questions, solving them, and further sublimating what they have learned in the process.Smart seekers pay attention to the study of theory, but pay more attention to the application of knowledge. They test the authenticity of knowledge in practice, and expand and carry forward the basic theory.

Absorb the essence from the crystallization of other people's wisdom, instead of sitting in a position of self-righteousness and knowing everything in the world based on fantasy alone, no one is so smart.It is recommended that investors read some books by investment masters such as Buffett to conduct in-depth research on investment concepts.You can learn a lot from other people's investment ideas and get the best out of them.Unfortunately, many people are very repulsed to learn anything new, or to use the proven useful knowledge of others, and stubbornly refuse to change their minds.

Learning is everywhere.For individuals, this sentence means to obtain new information through different channels in order to seek their own development and learn from the best. It is a two-dimensional process: it is both a right and a responsibility.It is our right to accept with gratitude the ingenuity of those who came before us; it is then our duty, with respect, to transmit it to those who come after us.

The stock market is actually a training ground for life. It will always give you hope and the opportunity to correct your mistakes. Investing in the market is actually investing in yourself. The investment success of the masters is actually the success of human nature. Their experience shows good thinking habits And investment belief is the guarantee and cornerstone of success.If you have no intention of cultivating or cannot cultivate well, you have to stay away from the market, otherwise you will continue to pay.

Investment motto:

Continuous learning is the best guarantee for investment, because the ever-changing investment market requires every investor to constantly adapt to it, and the best way to adapt is to keep learning.

(End of this chapter)