Just stumbled across a book review by one of my favorite business writers, Michael Lewis, on the Warren Buffett biography: The Snowball: Warren Buffett and the Business of Life by Alice Schroeder. If you don’t have the time for a 960 page tome, check out the review. It makes for an interesting read.
Billionaire Warren Buffett shared some valuable advice this past week on why he and Charlie Munger have made so much money.
It has a lot to do with the fact that both men were fortunate enough to find a line of work they really loved doing.
Well, we were lucky to be in this country to start with. But we found things we like to do very early in life and then we pushed very hard in doing those thing. But we were enjoying it while we did it. We had had so much fun running Berkshire it’s almost sinful. But we were lucky. My dad happened to be in a business (he was a stockbroker) that he didn’t find very interesting but I found very interesting. So when I would go down on Saturday there were a lot of books to read. You know, it just flowed from a very early age. – Warren Buffett
Everyone has a purpose in life. Perhaps yours is watching television? – David Letterman
Warren Buffett Wins Again: Train Traffic Is Going Through The Roof
It feels like an anachronism in this age of Internet to see a tycoon make a huge investment in an old school industry such as railroads. Even more so when it pays off in spades. However, that’s precisely what Warren Buffett did about three years ago. Now he is being rewarded.