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“’What should I do to become a great investor?’ asked by an earnest 17-year-old. Buffett’s emphatic answer: ‘Read everything you can’….Munger concurs calling Buffett ‘a learning machine’ that was due to the reading he did in his formative years that shaped his approach to investing and prepared the groundwork for the next 50 unprecedented successful years. …Buffett: ‘By the age of ten, I had read every book in the Omaha public library with the word finance in the title, some twice.’”(Jeff Mathews’ chapter) [Glen: At Saturday’s Meeting Warren stated, at least twice, that he spends 6 hours a day reading (newspapers, books, annual reports)]
“Buffett also recommends doing something else besides reading: ‘Invest – on a small scale – don’t just read.’” (Jeff Mathews’ chapter)
“’Ask, ‘What you own and why you own it?’ Munger says. ‘And if you can’t answer that, you aren’t an investor,’ he declares with absolute finality. Buffett concurs ‘If you can’t write an essay describing ‘why I’m going to buy the entire company at the current valuation,’ you have no business buying 100 shares of stock.” (Jeff Mathews’ chapter)
“Not only was Warren real, he was an unusual human being – a capitalist who is not a materialist” (Laura J. Rittenhouse’s c…………..
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