#100 Warren Buffett (The Snowball)

About this episode

What I learned from reading The Snowball: Warren Buffett and the Business of Life by Alice Schroeder. ---- [0:01] What he was teaching were the lessons that had emerged from the unfolding of his own life  [4:35] The dichotomy of Warren Buffett  [9:20] Warren Buffett wants to be remembered as a teacher  [11:52] Buffett’s idea of Inner scorecard vs Outer scorecard  [13:49] Warren Buffett’s early family life  [18:03] Learning to avoid the habit of thinking in only one direction (18:03),  [24:30] Warren’s WHY  [29:58] A young troublemaker and how Warren’s dad convinced him to change his behavior  [32:20] Warren did what you are doing right now: Since a young age Warren had studied the lives of men like Jay Cooke, Daniel Drew, Jim Fisk, Cornelius Vanderbilt, Jay Gould, John D. Rockefeller, and Andrew Carnegie. [33:48] Turning a rejection into one of the best things to ever happen to him [38:30] Mimicry instead of independent thought: Warren didn’t understand why they couldn’t see what was right before their eyes.  [42:20] One of the most inspiring things about reading biographies is you are constantly reminded that we all have the ability to improve. A young Warren Buffett was so afraid of public speaking he would vomit.  [48:06] Warren learning from and working with his idol: Ben Graham [52:20] Warren’s advice for everyone: Sell yourself an hour a day  [57:28] Intensity is the price of excellence and examples of people Warren wanted to do business with  [1:01:08] Warren Buffett is an obsessive/Munger would later call Buffett an implacable acquirer, like John D. Rockefeller in the early days of assembling his empire, who let nobody and nothing get in his way. (1:01:08),  [1:13:10] Warren Buffett on his biggest mistake  [1:16:11] What Buffett valued in the lives of others/His idea about claim checks  [1:19:25] His “Twenty Punches” approach to investing  [1:22:38] Warren’s answer to the question, “What has been your greatest success and greatest failure?”  ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here.  ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast