Know Your Unique Ability By Lee Brower
Warren Buffet # 2 By Lee Brower
They’re in no particular order.
Warren said that there are two major factors for his success:
- He’s wired to be great at Capital Allocation.
- He was born in the United States.
There are two ingredients that have allowed the United States to produce such an incredible bounty in such a short time:
- The U. S. provides more equality of opportunity.
- The U.S. has a market system that is designed to produce what people want.
Mr. Buffett is in touch with his unique ability and knows his boundaries. He admitted that he was able to stay focused on his unique talent and not get distracted with all the so-called opportunities. Are you in touch with your unique ability? Are you really aware of which activities generate the greatest results with the least amount of effort and result in the greatest amount of personal satisfaction?
When asked what motivates him, he responded with: I do what I love to do the way I want to do it. I like appreciation and I like my shareholders.
He also volunteered that he allows management to run businesses. And I applaud! With over sixty companies acquired by Mr. Buffet’s organization, he has never had a CEO leave voluntarily for another job. He selects companies to acquire that are led by founding individuals who are not in love with the money. They love what they are doing and they love their company. I let them paint their own painting. It will never be finished. I focus on being in good businesses with good people. Another tongue in cheek rule: When you buy a business, buy a business that is so strong that even a dope can run it, because eventually one will!
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