Surround Yourself With the Right People
After being asked what he would tell young investors, Buffett did not say anything about the market. Rather, he emphasized about the importance of the people you surround yourself with, as per Fortune.
Buffett said, “Who you associate with is just enormously important, and don’t expect you’ll make every decision right on that,” adding that, “You’re going to have your life progress in the general direction of the people that you work with, that you admire, that become your friends,” quoted Fortune.
He also mentioned, “There are people that make you want to be better than you are and you want to hang out with people that are better than you are and that you feel are better than you,” as quoted in the report.
However, the chairman clarified that surrounding with someone we admire is different than just following someone who makes a lot of money and trying to copy what they do, as per Fortune.
Compounding of Good Intentions
Buffett emphasized being around smart people that one can learn from, according to the report. He also advised that people should return any helpfulness that others offer them, saying, “So you get a compounding of good intentions and good behavior, and unfortunately you can get the reverse of that in life too,” quoted Fortune.The billionaire investor also highlighted that people should take a profession that they would do if they didn’t need the money and warned against associating with those who “tell you to do something that you shouldn’t be doing,” as per Fortune.He suggested, “You really want something that you’ll stick around for, you know, whether you need the money,” as quoted in Fortune.
In response to another question from a young investor who asked what she should do to get hired at Berkshire Hathaway one day, Buffett responded saying, “Keep a lot of curiosity and read a lot,” quoted Fortune.
FAQs
Did Warren Buffett give any investing tips?
Nope. His advice was focused on life, not the market.
Should I copy wealthy investors to succeed?
Buffett says no. Instead, learn from people who inspire you to be better.
