Warren Buffett is the most successful investor the world has ever known. His company Berkshire Hathaway has made a return on investments of more than 500,000% since he began in the 1950s. He has beaten everyone on the S & P Index every year for the last 45 years. One share of Berkshire stock sold originally at $18. Price for one share today, 23 August 2013, is $171,400. Buffett was by far the world’s richest man until 2006, when he gave, $31 billion, yes, GAVE 31 BILLION DOLLARS AS A GIFT, to the Bill and Melinda Gates Foundation to fight world poverty. He continues to give them billions more every year.He has done all this from nothing. Rejected by Harvard, he went to Columbia U, then started his business with $105,000 from seven of his friends. From such a small beginning, he has used his brilliant brain to dodge the rot of Wall Street, the crooked banks, and the crooked government mortgage institutions, and has remained an honorable and straightforward man. So I was ecstatic to be in a group that got to ask one of the leading minds in the world a face-to-face question that many of us have, “What is the best investment to make for life?”I guess we were looking for his advice on long-term energy stocks or electronics or some other business that comes within the purview of his blindingly accurate predictions over the years. His answer, however, was quite different. But it was even more important.Warren Buffett replied, “The best investment in life is yourself. Imagine you are 16 again, and I am going to give you a car, any car you want. But there is one condition. It is the only car you can ever have your whole life.” Just think. If you could have only one car to transport you lifelong, you would treat it with reverence. . You would learn its manual by heart. You would change the oil and hydraulic fluid more often than stipulated. You would use only the best fuel. You would replace the tires and wipers, and seals and belts at the first sign of wear. You would likely do complete maintenance twice as often as required. You would keep it shining.Of course, Buffett was referring to the human body, life transport for your brain. Sage advice from the best investor of all time. How well are you looking after yours? Dr Michael Colgan 23 August 2013
Posted on: Sun, 25 Aug 2013 03:39:35 +0000