5 timeless lessons for success from the early years of Warren Buffett's annual shareholder letter.s (via CNBCMakeIt)
Each year, Buffett writes a letter to his shareholders. Here are five pieces of Buffett's best advice about to be successful in business, culled from early annual letters.Buffett wrote in 1979Though the approach "produces an occasional major mistake," said Buffett, it more importantly reduces costs and "dramatically speeds decision-making.
"Considering that, we think it makes little sense for us to give up time with people we know to be interesting and admirable for time with others we do not know and who are likely to have human qualities far closer to average. That would be akin to marrying for money — a mistake under most circumstances, insanity if one is already rich," Buffett wrote.There's no need to work through a daunting problem if you can find a way around it.
While not a truism for all of life, in business, Buffett says it is "far more profitable" to "stick with the easy and obvious than it is to resolve the difficult."You'll never make a good deal with a bad person
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