Skip to content
  • Saturday, June 3, 2023
Flyingbiscuitcafeatlanta

Flyingbiscuitcafeatlanta

Proud To Earn It

  • Finance & Oportunity
  • finance & accounting
  • Business & Finance
  • SEO marketing
  • News Business
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Do You Dare Take on This Bold Challenge from Warren Buffett? | Personal Finance
News Business

Do You Dare Take on This Bold Challenge from Warren Buffett? | Personal Finance

June 6, 2022
Della C. Mae

[ad_1]


(Selena Maranjian)

Warren Buffett has spoken to scores of groups of students over the years, answering questions, and he and his business partner Charlie Munger answer shareholder questions for hours at annual meetings of their company, Berkshire Hathaway. A frequently asked question is how one might get better at investing, and a frequently offered bit of advice is simply to “read a lot.” In fact, Buffett has suggested reading 500 pages per day!

Here’s a closer look at that recommendation, along with some suggestions of what you might read.

Image source: The Motley Fool.

The value of reading

The 500-page recommendation has been recounted by Todd Combs, one of Buffett’s two investing lieutenants (the other being Ted Weschler). Back in 2000, when he was earning his MBA at the Columbia Business School, Buffett pointed at a stack of papers and advised: “Read 500 pages like this every day … That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”

People are also reading…

  • BenFred: Matt Carpenter is building a compelling comeback attempt with Yankees
  • St. Louis aldermanic president, two allies indicted on federal bribery charges
  • Missing hiker’s body found in Meramec River, 30 miles from trailhead
  • Always wild at Wrigley: Marmol ejected, Goldschmidt’s streak ends, Cubs win, and that’s only Game 1
  • Donovan delivers: Rookie’s 10th-inning hit wins Game 2, splits doubleheader on long, weird Wrigley day
  • Pujols rescues Cardinals in 10th for 3-2 win as Goldschmidt, Wainwright shine
  • McClellan: A lesson learned on the mean streets of Webster Groves: ‘Be careful out there.’
  • St. Louis area Catholic schools face large teacher shortage as closures loom
  • Renegade priest at St. Stanislaus is going back to Poland
  • Shooter who killed Sweetie Pie’s reality TV star pleads guilty, implicates others
  • Hudson, Arenado end frustrations in 5-2 Cardinals win over San Diego
  • Fatal shooting of dog in St. Charles County sparks national attention, investigation
  • Messenger: Missouri county clerk threatens to take away disabled man’s right to vote
  • FBI surveillance: Here’s what the St. Louis officials charged with bribery were recorded saying
  • Gordo: Booming minor-league bats are creating looming big-league decisions

Combs did, though, and he has reportedly read as much as 1,000 pages on many days. Much of it isn’t light reading, either — the recommended kind of reading is informative fare, such as annual reports, trade magazines for various industries, transcripts of conference calls that managements hold every quarter, newspapers, and so on.

Buffett’s partner Munger is equally bullish on the value of reading, having said, “In my whole life, I have known no wise people who didn’t read all the time — none, zero … If you want wisdom, you’ll get it sitting on your a–. That’s the way it comes.” He views reading as very profitable — literally: “I’ve gotten paid a lot over the years for reading through the newspapers.” He has quipped about it, too: “You’d be amazed at how much Warren reads — at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”

What to read

Just as Buffett predicted, most of us probably won’t achieve the reading level of 500 pages per day, but that doesn’t mean we can’t change our reading habits for the better. For example:

  • If you’re not much of a reader, start reading.
  • If you have trouble getting around to reading, make it part of your routine, perhaps finding time early in the morning or before you go to bed.
  • If you are a reader, aim to read more.

Here are some ideas of what you might read:

1. Annual reports

It’s smart to read the annual reports (including the financial statements) from any companies in which you’ve invested — and companies you’re thinking of investing in. Consider reading annual reports from competing companies, too. Buffett has explained: “If we owned stock in a company, in an industry, and there are eight other companies that are in the same industry … I want to be on the mailing list for the reports for the other eight because I can’t understand how my company is doing unless I understand what the other eight are doing.”

2. News stories and magazine articles

Both Buffett and Munger are longtime newspaper lovers, and they tend to read several each day. Those who can’t do that might still try to read as much of one good newspaper as they can each day. On top of that, read magazines about business and/or investments and magazine and/or online articles that relate to companies and industries of interest. Keeping up with financial news can give you an edge over other investors.

3. Trade magazines

Each industry will tend to have one or more trade magazines for folks in the industry, and these periodicals can impart a lot of inside information, helping you spot up-and-comers in the industry and learn about problems that the industry is facing. The hotel industry has Lodging Magazine, for example, while the fast-food industry has QSR — which stands for “Quick Serve Restaurant.” Many of these magazines exist in not only paper but also online form.

4. Conference call transcripts

It’s very common, when a publicly traded company releases its quarterly results (including its annual report), for its management to hold a conference call with analysts who ask questions. These calls can be treasure-troves of insights, and they can give you a sense of what the managers are like, too. The Motley Fool offers transcripts of gobs of conference calls.

5. Biographies

Reading about impressive people and how they moved through their lives and achieved whatever they achieved can be very instructive — sometimes inspiring us, too. A great biography that informs your investing process and decisions doesn’t have to be about an investor or businessperson, either. Reading about politicians, scientists, philosophers, and others can also be valuable.

6. Books about great businesses

Reading about great businesses — how they were formed and how they’ve overcome challenges — can help investors learn to spot other great businesses and develop a sense of why some succeed, and others don’t. You might read books centered on particular companies, but books such as Great by Choice: Uncertainty, Chaos, and Luck — Why Some Thrive Despite Them All by Jim Collins and Moten T. Hansen that review many companies, addressing common themes, can also be great.

7. Books about great investors

There’s much to be learned from other investors, too — and reading about very successful investors might help you refine your own investing strategy. You can learn from other investors’ mistakes, which can help you avoid making them yourself. Some great investors to investigate include John Bogle, Peter Lynch, John Templeton, T. Rowe Price, and Phil Fisher.

8. Buffett’s letters to shareholders

Learn from Warren Buffett himself while you’re at it — the Berkshire Hathaway website offers links to more than 50 years’ worth of his annual letters to shareholders, each of which will impart some investing insights while also delivering a chuckle or two. He writes in a very accessible manner, as if he’s addressing his non-financial-professional sister.

So consider taking on Buffett’s challenge and see how much you can manage to read. Your investing performance can improve greatly as you absorb many insights and lessons.

10 stocks we like better than Walmart

When our award-winning analyst team has an investing tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

They just revealed what they believe are the ten best stocks for investors to buy right now… and Walmart wasn’t one of them! That’s right — they think these 10 stocks are even better buys.

Stock Advisor returns as of 2/14/21

Selena Maranjian has positions in Berkshire Hathaway (B shares). The Motley Fool has positions in and recommends Berkshire Hathaway (B shares). The Motley Fool recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.

Get the latest local business news delivered FREE to your inbox weekly.

[ad_2]

Source link

Tags: Amazon Business Credit Card, American Airlines Business Class, Att Business Login, Austin Business Journal, Best Bank For Small Business, Best Business Bank Accounts, Best Business Schools In Us, Best Business To Start, British Airways Business Class, Business Attire Men, Business Card Ideas, Business Casual Shoes For Women, Business Continuity Planning, Business Entity Search, Business Letter Template, Business Management Degree, Business Manager Facebook, Business Plan Outline, Business School Rankings, Colorado Business Search, Delaware Business Entity Search, Drop Shipping Business, Family Business Bet, Fox Business Live, Georgia Sos Business Search, Google Business Account, Harvest Small Business Finance, How To Build Business Credit, Is Saturday A Business Day, Is Sears Still In Business, Microsoft 365 Business, My Business Google, Name Generator Business, None Of Your Business, Ny Sos Business Search, Open A Business Bank Account, Pa Business Search, Plus Size Business Casual, Pnc Business Banking, Sos Business Search Ca, Sunbiz Business Search, Taking Care Of Business, The Business Of Being Born, Turbotax Home And Business 2020, Tx Sos Business Search, Venmo For Business, Verizon Business Plans, Virtual Address For Business, What Are Business Days, Women Business Casual

Post navigation

How to Measure Patient Satisfaction in Healthcare
5 SEO Courses That Will Accelerate Your Search Efforts
June 2023
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« May    

Archives

  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • November 2018
  • October 2018
  • December 2016

Recent Posts

  • IMF terms discussions on 9th review productive
  • Slash Your Heating Costs This Winter
  • The ROI of personalized experiences: Audience measurements
  • Redefining Essentials: How our Hearts are Dictating Spending Post-COVID
  • SAP Partner of the Year & Boyum APJ Partner of the Year 

BL

Tags

"Georgia Business Search American Express Business Cards Att Business Customer Service Att Business Internet Att Business Login Bad Business Codes Bank Of America Small Business Buffalo Business First Business Administration Jobs Business Administration Salary Business Analyst Jobs Business Card Dimensions Business Casual Female Business Casual For Women Business Casual Women Outfits Business Ideas 2021 Business Letter Example Business License California Business Name Search Business Process Reengineering Business Proposal Template Buy A Business Card For Business Chase For Business Chase Ink Business Card Columbia Business School Costco Business Center San Jose Emirates Business Class Facebook Business Account Fictitious Business Name Florida Business Entity Search Ga Sos Business Search Google Business Email" Houston Business Journal Illinois Business Search Instagram Business Account Is Lularoe Still In Business London Business School Master Of Business Administration Men'S Business Casual Pittsburgh Business Times Qualified Business Income Deduction Sacramento Business Journal Secured Business Credit Card Standard Business Card Size

Randomize

Virginia Secretary Of State Business Search

contentplacement.id

getlikno

You may Missed

finance & accounting

IMF terms discussions on 9th review productive

May 27, 2023
Della C. Mae
Business & Finance

Slash Your Heating Costs This Winter

May 25, 2023
Della C. Mae
News Business

The ROI of personalized experiences: Audience measurements

May 24, 2023
Della C. Mae
finance & accounting

Redefining Essentials: How our Hearts are Dictating Spending Post-COVID

May 23, 2023
Della C. Mae
Copyright © 2023 Flyingbiscuitcafeatlanta
Theme by: Theme Horse
Proudly Powered by: WordPress

WhatsApp us