8 Lessons I Learned From Warren Buffet’s Brekshire Hathaway Annual Shareholders Meeting

Most recently, I had the chance to be at Warren Buffet’s Brekshire Hathaway Annual Shareholders Meeting. It’s great to be able to see the 3rd richest man in the world in person!

I must say that it’s truly an eye-opening experience with a lot of wisdom to draw from this meeting.

I want to share with you 8 lessons that I managed to draw from this amazing event.

charlie-and-warrenLesson #1: Don’t Do It By Yourself

On the surface, you probably have heard many stories about how successful Warren Buffet is. Maybe you have heard about his financial wealth through books or other media.

However, while watching the annual meeting live in person it became clear to me that his success did not come because of himself alone. In fact, he has a partner, Charlie Munger, who he works very closely with.

I could see how much they compliment each other a lot and it’s almost like they’re husband and wife.

You probably have heard of the saying that goes like this “behind every successful man, there is woman.”

No one can do it by himself or herself. Every successful company that we see today isn’t successful because of one person alone.

So have someone who you can work closely and brainstorm ideas with. Regardless of whether it’s your wife, a best friend, a business partner and etc.

Work with someone you can trust and you’ll grow a lot faster.

Lesson #2: Have Mentors

Some may think that success comes easy and that you become successful because you are talented.

The good news is, you don’t have to be talented to be successful. Jack Ma is clear example of that. And that’s why Warren Buffet surrounded himself with mentors, which helped him to be where he is today.

He said during the Annual Shareholders Meeting that he has 2 main mentors that contributed to his success. One of his mentor is Benjamin Graham who taught him about investing. His other mentor is Charlie Munger who taught him about business.

Get a mentor if you want to be successful. Mentors are people who have already accomplished what you’re trying to accomplish.

Lesson #3: Buy A Stock Like You’re Buying a Business

When it comes to the stock market, people often will buy a Stock because they feel that a stock price is going to go up. Some may buy a Stock due to other reasons such as news influence, friend’s advice, making guesses and etc.

However, you should buy a stock based on a different perspective instead. Warren Buffet and Charlie Munger buy stocks like as though they are buying a business.

This makes you see the entire stock market in a different light. You no longer look only at ticker symbols and prices but real businesses.

Lesson #4: Buy A Business That Any Idiot Can Run

So once you look at the stock market differently and know that you are buying a business instead of just buying a piece of stock then the next thing is to buy a business that any idiot can run.

This is a principle that Warren Buffet and Charlie Munger mentioned time and time again.

It’s basically the idea of choosing a stock that has a simple business. So simple that anyone can easily operate it. One example is McDonalds.


Lesson #5: See Yourself As An Asset Allocator

One of the things that Warren Buffet and Charlie Munger talked about is that they see themselves as people who are asset allocators.

This means that you shouldn’t make the mistake of placing all you money into one stock alone. If you see yourself as an asset allocator, it means that you have to have the mindset of diversification.

That will ensure that you allocate your money (asset) into different types of stocks, investments and etc.

Lesson #6: You Got to Have Patience

People sometimes can make the mistake of investing into any stocks or investment opportunity because they fear that they will miss out on an opportunity.

Charlie Munger said, “It takes character to sit with all that cash and to do nothing. I didn’t get top where I am by going after mediocre opportunities.”

Becoming financially successful is also about having patience. It’s the ability to patiently wait for the right opportunity to come or the patience to wait for your investments to compound and grow.

Don’t be quick to jump into every opportunity that you see.


Lesson #7: We All Make Mistakes

Yes! No one is perfect. Even people like Warren Buffet and Charlie Munger also make mistakes. They seem so perfect looking at where they are but they too also make mistakes.

And so it’s important that you don’t beat yourself down for making mistakes. Just learn from them and move forward.

Don’t close yourself up and live in fear because of any mistakes that you have made. Accept them and know that it’s okay.

Living in fear will only cause you to close yourself up from opportunities that can change your life.

Lesson #8: Have Emotional Control

This is difficult to have control over sometimes. It’s our human nature and tendency to make decisions based on our emotions. This is why sometimes we buy something without thinking because it’s our emotions that take control.

However, if you would like to be financially successful, then you have to exercise emotional control.

Don’t make an investment or buy a stock because you like the company or brand. Dig further and research before you make your decision.

Having emotional control also prevents people from having a self-destructive behavior that can be detrimental to your financial future.

So go ahead and apply these 8 lessons from Warren Buffet & Charlie Munger to your life.

If you would like to learn how to invest and compound your money year after year like Warren Buffet, then you should attend an upcoming free workshop that will teach you how.

In the free workshop, you’ll learn a simple 3-step system that you can apply to multiply your money year after year even if you have to financial background.

Many people’s lives have been changed because of this workshop. So if you want to change your financial future and get true financial freedom, then you don’t want to miss it.

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