The New Buffetology is a book written by two people who apparently have some great insight into the legendary Warren Buffet. They wrote a book on his investment strategies, some basic investment terminology and strategies they believe Mr. Buffet has used and sticks to in investing.
As I read this book there were things that struck me about Mr. Buffet's foundational investment tenets that should extend beyond investing. Primary examples are:
- Patience in acting is critical;
- Study, study, study, before committing;
- Things that are reliable, predictable, and understood translate to success;
- Mistakes will be made as part of the process;
- People are as, or more, important than the product or numbers.
So critical to Warren Buffet in amassing billions, yet so valuable to us in non-investment applications. It isn't to say that chances can't be or shouldn't be taken or that fun shouldn't be had. But success and fun can be achieved with calculated risks and success overall is fun.
Take it for what you will, but I found it interesting. Know what is also interesting? The book was written 20 years ago!!!
If you have a read you think was well worth the time, I'd be happy to get the title from you. Send it my way!