Charlie Munger, the billionaire partner to Warren Buffett at Berkshire Hathaway, describes his friend’s day as 80 percent reading—often five hundred pages. Before he invests his client’s money in a company, Buffett puts the odds in his favor by reading everything he possibly can about the company itself and the broader industry. He is not always right, but he is always informed. We might imagine him flying around on private jets, wheeling and dealing, when in fact he is more likely sitting at his desk, reading everything from the great books to technical analysis.
Mr. Buffett’s reading habit provides a powerful lesson for all of us. But most Americans read almost nothing. A friend who teaches at a large public university thinks less than half of his incoming freshmen have ever read a single book in full.Jeff Deist President of the Mises Institute. Five Keys to Professional and Personal Development accessed online 9/22/22 — https://mises.org/wire/five-keys-professional-and-personal-development
Some good advice, no matter what stage in life you find yourself. This talk was delivered on September 2, 2022, to a student workshop at the Ron Paul Institute conference in northern Virginia.
- Learn Continuously
- Avoid Arguments
- Promote People, Not Just Ideas