Warren Buffett, perhaps the most well-known investor of them all, will be retiring as CEO of Berkshire Hathaway at the end of this year (he’ll then be 95). This news has me thinking about some of the valuable lessons I’ve learned over the past 25+ years – many from the man himself.

• “Invest in as much of yourself as you can - you are your own biggest asset by far.” Warren Buffett has repeatedly emphasized the importance of investing in yourself, highlighting the fact that personal development offers unparalleled returns. In his view (and mine), self-investment through education, skill development and personal growth is the most reliable and rewarding investment you can make.
• “Don’t watch the stock market closely.” How many times have you heard me say this? While it is part of my actual job to monitor the markets daily, the psychological effects of continually checking your own portfolio can be dire. Rather than constantly looking to see if you are up or down a few percentage points, it is far better to remember why we bought these companies in the first place. This is why I spend so much time explaining to you in detail, all of the reasons I like a company, prior to investing in it.
• “It’s much easier to stay out of trouble now than get out of trouble later.” Buffet has spoken many times about the idea that wise investors say no more often than they say yes. It reflects his (and my) broader philosophy regarding risk management and decision-making.
• “Keep your investing strategy simple – complexity is often the enemy of clarity.” This approach is evident in his preference for investing in businesses he thoroughly understands, a concept he refers to as staying within his “circle of competence”.
• “Only work with people you trust.” He has also said, “I only work with people I like. If I could make $100 million with a guy who causes my stomach to churn, I would say no.”
• “Be fearful when others are greedy, and greedy when others are fearful.” This is perhaps Buffett’s most commonly quoted idea ever (and my favourite).

The lessons I’ve learned from Warren Buffett are simple but profound: invest in what you understand, work with people you trust, and always think long-term. As an Investment Advisor, these principles aren’t just strategies – they’re a compass that guides how I serve my clients.

Buffett’s legacy is a testament to the power of consistency, character, and quiet confidence.

Have a great June!

Libby

As a reminder, I am always happy to take referrals. If someone you know could benefit from a second opinion and fresh perspective, it costs nothing and can be invaluable for those who feel they’re not getting the care and attention they deserve. Please pass along my contact information to them. Thank you!

 

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