Recently, I got hold of a great book by Roger Lowenstein, Buffett: The Making of an American Capitalist, and the storytelling of Buffett’s lifestory is simply amazing.
So far, I’ve read 3 chapters, and I would like to share 2 tidbits, which I find simple yet profound …
“Leave off in time to pay your debts and save your credit, for that is better than money.” (I believe this applies for business – when things turn sour, be sure to save your credit)
“You try to be greedy when others are fearful and you try to be fearful when others are greedy.” (I believe this is true for the Stock Market — remember, the psychology of stock trading goes beyond charts and data. As people can’t set apart emotions from objectivity, the herd mentality will always prevail as everyone wants to hit the jackpot everytime)
to be continued… (for more insights)
Also, check out “EIC – Warren Buffett Biography #1 to #7″ from MY VIDEOS. The documentary gives you a preview of the content of this book by Roger Lowenstein. (this is multimedia as its best!)
