thumbnail

Why Warren Buffet Spends 80% Of His Time Reading Books

Some of the world’s greatest achievers all have one thing in common: and this isn’t a high IQ, nor is it an incredible lucky streak, but their appreciation for reading. Books were their most profitable investment.

 

Two teenage boys found employment at a grocery store in Omaha, Nebraska. The older boy, from a poor family devastated by the Great Depression, bred and sold hamsters for spare change. The younger boy, grandson of the store owner, had been delaying college and working odd jobs, like selling chewing gum and coke bottles door to door.

 

Back then, each boy made about $2 a day. Just a few decades later, they’d be raking in $20 billion in profit per year with their conglomerate, Berkshire Hathaway. Who were these boys? None other than Charlie Munger and Warren Buffett. How did they become the most successful investors America has ever seen?

 

Buffett spends 80% of his day reading Fastrack to 2007, the 84-year-old Charlie Munger, reveals to a crowd of aspiring law students the secrets to their success:

 

“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.”

 

Supposedly, in the early days of Buffett’s investment career, he would read 600-1000 pages in a single day. Nowadays, he still dedicates 80% of his day to reading. His takeaway for everyone: no matter where you are in life, keep on learning and you will succeed

 

His takeaway for everyone: no matter where you are in life, keep on learning and you will succeed.

The billionaire book club

Buffett and Munger are not the only ones who credit their success to reading.

Tech entrepreneur Elon Musk reportedly learned how to build rockets by reading books. Musk was bullied a lot as a child in South Africa. He found comfort in fantasy and science-fiction books, which inspired him to leave a legacy in the world.

Bill Gates, the richest man in the world and a lifelong bookworm, reads about 50 books a year, but strictly nonfiction ones. Although he gets to visit a lot of places and meet interesting people, he would still rather read books to acquire new knowledge.

Similarly, Mark Zuckerberg invited the whole world to join him in his quest to read a book every two weeks in 2015.

 

So, what are your reading goals?

Leave a Reply

Your email address will not be published. Required fields are marked *