The world has not seen very many people like Warren Buffett. A guy who starts from a modest and simple life and grows on to such great heights just based on his “passion”. Of course, his donation has made history and is going to remain the single most important act of self-lessness. Here is a nice video of his indepth interview with Charlie Rose. I like the way he discusses his investment philosophy. There was one thing he said about his lesson from Ben Graham – his mentor – that really was very profound.
“You should use the stock market and not take instructions from it”
Which essentially means that the stock price should not dictate your assessment of how your stock investments are doing. Rather the stock prices should give you cues on when to buy. Performance of a company has very little, if anything, to do with its stock price!! I think most of us are not that diligent!!
To which he says rather humorously that a person waiting to learn to have passion when he gets mature is like leaving ones sex life for the old age! Do whatever you want to do with passion right from the word go!! So do things right at the outset!