Book Summary

The Snowball: Warren Buffett and the Business of Life Author Alice Schroeder

Buffett is the most successful investor of all time and one of the richest person in the world. The Snowball is the only authorized biography of Warren Buffett also known as the Oracle of Omaha.

Maintain a strong focus on who you want to be, and not on what you want to do.

Be extremely dedicated to learning your craft and then applying it to earn wealth. As a student Buffett knew what he wanted to learn and from whom he wanted to learn.

Buffett started investing at the age of 11 ! So start investing early to benefit from the tremendous power of compounding.

Stay honest on your path to success – do not try fraudulent means. There might be times when you would have easy opportunities to do the wrong things. Do not go on that path.

Avoid being too reliant on a single source of income – spread out your income stream to make the best of new opportunities. Buffett’s company Berkshire Hathway has interests in various sectors.

Patience, temperament, and starting young will work wonders for your investment journey. Buffett has shown tremendous patience during his investing journey. Some of his stock holdings are 3-4 decades old.

Stop worrying about aspects and events that are out of your control. Instead, focus on the things you can control to attain success.

When you know something to be true, remain focused on your belief, even if people criticize your approach.

Buffett does not tolerate liars or people who do not share the whole truth. He has famously said “It takes twenty years to build a reputation, and five seconds to ruin it”


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