Warren Buffett, now 89, on a lifelong success factor that few other billionaires are willing to credit investinyou (In partnership with acorns.)
"Warren Buffett has stressed the importance of luck in his life, focusing not only on where he was born but also when. His primary skill of allocation of capital has worked well for him in the United States and in his lifetime," Kass said., said Buffett's example reveals something fundamental about business greatness: Positive outliers, including Buffett, "are the product of lots of skill and lots of luck ... in business dealings.
Lawrence A. Cunningham, Henry St. George Tucker III Research Professor of Law at George Washington University and author of several books about Buffett, including "Berkshire Beyond Buffett," said Buffett borrowed this idea from Harvard philosopher John Rawls and his canonical work, "A Theory of Justice."
Rawls' philosophical treatise on how to create a just society includes a much simpler message for those who want to build businesses and wealth: "Treat everyone on your team — whether employee, customer, supplier, financier — the way you would want to be treated if you were them. … The golden rule, in a nutshell," Cunningham said.
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