#100 Warren Buffett (The Snowball)
What I learned from reading The Snowball: Warren Buffett and the Business of Life by Alice Schroeder.
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[0:01] What he was teaching were the lessons that had emerged from the unfolding of his own life
[4:35] The dichotomy of Warren Buffett
[9:20] Warren Buffett wants to be remembered as a teacher
[11:52] Buffett’s idea of Inner scorecard vs Outer scorecard
[13:49] Warren Buffett’s early family life
[18:03] Learning to avoid the habit of thinking in only one direction (18:03),
[24:30] Warren’s WHY
[29:58] A young troublemaker and how Warren’s dad convinced him to change his behavior
[32:20] Warren did what you are doing right now: Since a young age Warren had studied the lives of men like Jay Cooke, Daniel Drew, Jim Fisk, Cornelius Vanderbilt, Jay Gould, John D. Rockefeller, and Andrew Carnegie.
[33:48] Turning a rejection into one of the best things to ever happen to him
[38:30] Mimicry instead of independent thought: Warren didn’t understand why they couldn’t see what was right before their eyes.
[42:20] One of the most inspiring things about reading biographies is you are constantly reminded that we all have the ability to improve. A young Warren Buffett was so afraid of public speaking he would vomit.
[48:06] Warren learning from and working with his idol: Ben Graham
[52:20] Warren’s advice for everyone: Sell yourself an hour a day
[57:28] Intensity is the price of excellence and examples of people Warren wanted to do business with
[1:01:08] Warren Buffett is an obsessive/Munger would later call Buffett an implacable acquirer, like John D. Rockefeller in the early days of assembling his empire, who let nobody and nothing get in his way. (1:01:08),
[1:13:10] Warren Buffett on his biggest mistake
[1:16:11] What Buffett valued in the lives of others/His idea about claim checks
[1:19:25] His “Twenty Punches” approach to investing
[1:22:38] Warren’s answer to the question, “What has been your greatest success and greatest failure?”
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