TAO OF WARREN BUFFET # 18

Standing Alone
Standing Alone

My idea of group decision is looking in the mirror.

Warren is not one to seek affirmation of his ideas from others, because so many of his ideas are the opposite of what the herd is thinking.To make big money in  the investment world you have to learn to think independently , to think independently you need to be comfortable standing alone.

Warren has a history of standing alone that dates back to the early days of his investment career. He chose to live in Omaha instead of NYC because there was less influence from Wall street. He bought into Berkshire Hathway when no one wanted it , he bought into American Express when no one wanted it, he bought into the Washington Post Company when no one wanted it.he bought into General Foods when on one wanted it, he bought into RJR Tobacco when no one wanted it, he bought into GEICO when noone wanted it, he bought the bonds of the Washington Public Power Supply System when noone wanted them, and he bought into junk foods when noone wanted them,Some of this investments he still owns, some of them he sold after holding them for a number of years, but on each and every one of them he made a fortune.

If he had taken a vote of confidence from anyone on the Wall street he would have missed the boat on all these great investments.

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