The Thursday Thesis - 23/4/2020
Warren Buffett – the World’s greatest investor – has a very simple way of sorting out the wheat from the chaff in his life. It obviously works, because he’s grown his company, Berkshire Hathaway, from nothing to billions, so we might be wise to take a tip or two from him.
And that’s the thing – most people take advice from their peers.
Why is it a mistake?
Because your peers are more or less your equal, and are often less informed than you are. They are also navigating from their own map, applying their own prejudices and biases to your situation – making judgements based upon their values and principles.
A far better plan is to get your tips from people who are doing better than you in the area of life you are concerned with.
So – if you want to be financially successful – don’t take the advice of poor people.
If you want to get into great shape – don’t take diet and exercise advice from fat people.
So, what did Warren do to keep his mind ON what he wanted and OFF what he doesn’t want?
He made just two lists.
List One is the DO list – the half-dozen most important things in his life.
Half a dozen, max.
List Two is everything else – the plethora of things that he absolutely didn’t want to do.
He lives by List One.
How simple is that?
I wish someone had told me this when I was a spotty, long-haired kid.
© Neil Cowmeadow 2020
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