The Oracle of Omaha’s Dirty Little Secret

Wisdom, myths, and life lessons from Warren Buffett March 04, 2022 [UNSUBSCRIBE]( | [WEBSITE]( [Altucher Confidential] If there’s anything you’ve missed as part of your membership to Altucher Confidential, make sure you check out our website where you can find archives, updates, and everything else that's included in your subscription. You can access it by [clicking here now](. “It doesn’t hurt that, beyond the cracker barrel image, Buffett is capable of spinning up no shortage of timeless wisdom.” [HERO IMAGE] The Oracle of Omaha’s Dirty Little Secret By Chris Campbell Here is your instant access link [Read more here...]( [Here is your instant access link to The Next Gen Crypto Summit.]( Keep in mind this is a first-come, first-served event. Anticipation is high, and with the special link above, you’ve got ‘first read’ access. By the end of the day, hundreds of thousands of folks will have had the opportunity to get the research on the 9 Next Gen Cryptos I believe will change the world. It’s been years since I’ve done something like this… And I’d love for you to be there. [>> Click here for access to the Summit]( Warren Buffett is a legend. Millions of people hang on his every word. His letters are some of the most anticipated financial writings by far. He’s quoted more than any other investor alive. He’s the archetypal wise man. “But,” says James, “there are a lot of myths about him.” James listed them off: - He’s a value investor (he isn’t). - He’s a nice guy (he might be but the public “niceness” that we see is a persona). - He’s a long-term investor (he isn’t always). - He made all his money from investing (he didn’t). - He’s a straight shooter (he’s not). “And,” James adds, “he’s not your grandpa.” Allow us to explain. Buffett has carefully crafted a very specific image. Part of his persona is to be relatable -- to be your wise, salt-of-the-earth grandpa. “For example,” says James, “he focuses on his small house in Omaha. He never mentions he used to have an enormous mansion in California.” He also often draws attention to the fact that his kids won’t inherit anything. But, says James, “He doesn’t mention he gave them each a $3 billion charitable foundation. With a charitable foundation like that, they can take a salary of tens of millions per year .And because these were set up as charities, when Buffett dies, none of his kids will have to pay an inheritance tax.” There’s a reason Buffett maintains this persona: “Using this folksy wisdom he’s been an advisor to the CEOs of the biggest companies, Presidents, other billionaires, etc. Why be an advisor? To get deals!” It works for him. It doesn’t hurt that, beyond the cracker barrel image, Buffett is also capable of spinning up no shortage of timeless wisdom. America’s #1 Futurist George Gilder’s 2021 Prediction Will Stun You [Click here for more...]( headed for a potential [$16.8 trillion reboot]( he says. This “reboot” could create the largest wealth generation in decades. And it has nothing to do with politics, the coronavirus, or the Fed. [Click this link]( to see how to tap into this wealth revolution and learn how it could make you very… very… rich. 6 Life Lessons From Warren Buffett Recently, a blogger named Chris Hladczuk read 50 years of Warren Buffett’s shareholder letters. He distilled all of the lessons down to several timeless principles. Here’s the highlights: 1.] The Orangutan Effect. (Plus, Minus, Equals) “If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will exit thinking more clearly yourself.” Teaching others teaches yourself. James takes this further with a method he calls “plus, minus, equals.” Plus: Find mentors, real (maybe someone from your work) or virtual (from books). Learn from someone with more experience than you. Minus: Explain what you are learning while you are learning it. Teach someone with less experience than you. Equal: Find people who love what you love and spend as much time talking about this shared area as you can. 2.] The Silent Secret to Investing (and life): In 1982, Buffett quoted Blaise Pascal "It has struck me that all men’s misfortunes spring from the single cause that they are unable to stay quietly in one room.” Knowing when not to act is just as important as knowing when and how to act. Sometimes it’s best to do nothing. This is the most difficult skill to learn. 3.] Buffett's GEICO Principle In 1982, Buffett used GEICO as an example for his best investing advice ever: "Keeping things simple and remembering what you set out to do." The bigger the project, the more we need a reminder of the goal and simple things to execute today. 4.] Hire Giants, Avoid Dwarfs In 1985, he said: "If we hire people who are smaller than us, we become a company of dwarfs. But, if we hire people who are bigger than us, we become a company of giants." Great hiring makes you the dumbest in the room. 5.] Pick a Job Where Your Time Horizon is Forever In 1998, he wrote: "Berkshire is my first love and one that will never fade: At Harvard Business School last year, a student asked me when I planned to retire and I replied, "About five to ten years after I die." But, in 1990, he inserted a caveat: 6.] Great Talent Never Solves a Bad Business "Good jockeys,” he wrote, “will do well on good horses, but not on broken-down nags." It doesn't matter how good you are. Pick the wrong market or a bad business model and you fail. What you work on matters more than anything else Even in our day — where chaos is the rule, not the exception — Buffett’s wisdom rings true. Until next time, [Chris Campbell] Chris Campbell For Altucher Confidential The No. 1 Crypto Of 2022 Is Poised To Be Even Bigger Than NFTs, Blockchain, Or Bitcoin? If you act fast, you can get in before everyone else catches on. [Click here for the details.]( Subsribe To My Podcast [The James Altucher Show]( [The James Altucher Website]( [Subscribe With YouTube]( [Subscribe On Messenger]( [Subscribe With iTunes]( [Connected on LinkedIn]( Add AltucherConfidential@email.threefounderspublishing.com to your address book: [Whitelist Us]( Join the conversation! Follow me on social media: [Facebook Group]( [Facebook]( [Twitter]( [Pinterest]( [Instagram]( [Three founders Publishing]( To end your Altucher Confidential e-mail subscription and associated external offers sent from Altucher Confidential, feel free to [click here](. 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