How and what to read – learning from gurus
- Warren Buffett is a famously voracious reader, allegedly devouring up to 500 pages of information a day.
- According to his biographer Alice Schroeder, he starts the workday with a stack of newspapers, magazines, and newsletters before moving on to daily and monthly reports from the companies he owns and annual reports from companies he doesn’t own but finds intriguing for some reason.
- He keeps hours on his daily schedule blocked out for reading, and for thinking about and digesting the information he has just read. As Buffett has often explained, the result of this is knowledge that compounds over time, as reliably as the value of his investments.
- “While most of us focus on consuming information that we won’t care about next month, let alone next year, Buffett focused on knowledge and companies that change very, very slowly or not at all,” Parrish writes. “And because the information he was learning changed slowly he could compound his knowledge over time.”
- Warren Buffett credits many of his great money decisions to his voracious reading habit. He says he starts every morning by poring over several newspapers and estimates he spends as much as 80 percent of his day reading.The CEO of Berkshire Hathaway, when asked once about the key to success, pointed to a stack of books and said, “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”“I read and think,” Buffett once said. “So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.”
2. 18 books billionaire Warren Buffett thinks everyone should read
