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Founders: #182 Warren Buffett (The Making of an American Capitalist)

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What I learned from reading Buffett: The Making of an American Capitalist by Roger Lowenstein. ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- His talent sprang from his unrivaled independence of mind and ability to focus on his work and shut out the world, yet those same qualities exacted a toll. He emerged from those first hard years with an absolute drive to become very, very rich. He thought about it before he was five years old. And from that time on, he scarcely stopped thinking of it. Most of us were trying to be like everyone else. I think he liked being different. He was what he was and he never tried to be anything else. Warren disgustedly reported that he knew more than the professors. His dissatisfaction-a forerunner of his general disaffection for business schools-was rooted in their mushy, overbroad approach. His professors had fancy theories but were ignorant of the practical details of making a profit that Warren craved. It seemed too good to be true; if the stocks were so cheap, Buffett figur

[00:00:00] In the annals of investing, Warren Buffett stands alone. Starting from scratch, simply by picking stocks and companies for investment, Buffett amassed one of the greatest fortunes of the 20th century. Over decades, Buffett outperformed the stock market by a stunning margin and without taking undue risks of suffering a single losing year. This is a feat long proclaimed to be impossible. By virtue of this steady, superior compounding, Buffett acquired a net worth of billions. Buffett's career unfolded as a sort of public tutorial on investing and on American business. [00:00:37]…

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