ENGLISH SPEECH | WARREN BUFFETT: Becoming successful (English Subtitles) | Summary and Q&A

TL;DR

Warren Buffett shares his wisdom on true success, offering advice on business success, the importance of investing in oneself, and the significance of choosing the right associations and heroes in life.

Key Insights

• 🥰 True success lies in having genuine love from people in your life, regardless of wealth or poverty.
• 👋 Investing in oneself, especially in communication skills, is the best investment one can make.
• 🤕 Taking care of one's mind and body from an early age is essential for long-term success.
• 🖐️ Associations and heroes play a crucial role in shaping one's life and should be chosen wisely.
• 🍉 Frequent trading is not smarter than long-term investment.
• 👨‍🏫 The worth of business school depends on the individual and their personal goals.
• ✋ Pursuing higher education should be aligned with one's interests and aspirations.

Transcript

Interviewer: Warren, how would you define true success? Warren Buffett: Well, I've said many times that if you get to be   65 or 70 and later, and the people that you  want to have love you actually do love you,   you're a success. I've never seen  anybody that reaches that age. I mean,   I'm not talking about somebody that's  in extreme poverty or... Read More

Questions & Answers

Q: How does Warren Buffett define true success?

Warren Buffett believes true success is having people who love you genuinely in your life, regardless of wealth or poverty. If you have people who truly love you as you reach old age, you're considered successful according to Buffett.

Q: What advice does Warren Buffett offer for succeeding in business?

Buffett emphasizes the importance of investing in oneself, particularly in communication skills. He believes improving communication skills can increase one's value by at least 50%. Taking care of one's mind and body from a young age is also crucial for long-term success. The choice of associations and heroes also plays a significant role in achieving success.

Q: What mistakes do people make when investing, according to Buffett?

Buffett points out that many people fail to understand the benefits of long-term investment. Instead, they focus on frequent trading and fail to realize that moving around is not smarter than investing. He advises individuals to buy across a cross-section of America and avoid unnecessary trading.

Q: Is business school worth it, according to Warren Buffett?

Buffett believes the worth of business school depends on the individual rather than the school itself. While some people may benefit greatly from advanced education, others may gain little from it. Buffett does not believe that every person needs to go to college and suggests that pursuing higher education should align with one's interests and goals.

Summary & Key Takeaways

• Warren Buffett defines true success as having people who genuinely love you in your life, regardless of wealth or poverty.

• His three pieces of advice for succeeding in business are: investing in oneself, particularly in communication skills; taking care of one's mind and body from an early age; and choosing the right associations and heroes in life.

• When it comes to investing, Buffett advises against frequent trading and emphasizes the advantages of long-term investment.