What is 'tao'? Tao
(pronounced "dao") means literally "the path" or "the
way." It is a universal principle that underlies everything from the
creation of galaxies to the interaction of human beings. The workings of Tao
are vast and often beyond human logic. In
order to understand Tao, reasoning alone will not suffice. One must also apply
intuition.
Warren
Buffett’s business methodologies and practices have been researched, written
about and followed by leading business men the world over. I bought my first Warren Buffett publication
in 2004 – "The Real Warren Buffett – Managing Capital, Leading People".
Mary
Buffett wrote “The Tao of Warren Buffett” with David Clark in 2006. For twelve years Mary was the daughter-in-law
of Warren Buffett, the world’s most successful investor and now its greatest
philanthropist. The publication consists
of 125 of Warren Buffett’s aphorisms – words of wisdom that Mary over heard Warren Buffett say at the family home and at other occasions which included the attendance of a group of business students he tutored in investment practice. The origin of ‘aphorism’ is Greek ‘aphorismos’ meaning
‘definition’. The Oxford
Some of my favourite aphorisms
in the “The Tao of Warren Buffett” publication are:
No. 46
“It’s hard to teach, a young dog old tricks”
In Warren
Age and experience can be a far greater
virtue than
Youth and enthusiasm when it comes to making
money the old-fashioned way
No. 47
“In looking for someone to hire, you look
for three qualities:
Integrity, intelligence, and energy
But the most Important is integrity, because
if they don’t have that,
The other two qualities intelligence and
energy, are going to kill you”
No. 56
“A friend of mine spent twenty years looking
for the perfect woman;
Unfortunately, when he found her;
He discovered that she was looking for the
perfect man”
No. 73
“Imagine that you had a car and that was the
only car you’d have for your entire lifetime
Of course, you’d care for it well
Changing the oil more frequently than
necessary, driving carefully etc
Now, consider that you only have one mind
and one body
Prepare them for life, care for them
You can enhance your mind over time
A person’s main asset is themselves, so
preserve and enhance yourself”
No. 92
“We never look back. We just figure there is so much to look
forward to
That there is no sense thinking of what we
might have done
It just doesn’t make any difference
You can only live life forward”
No. 124
“We do not have, never have had, and never
will have
An opinion about where the stock market,
interest rates,
Or business activity will be a year from
now”
No. 125
“Of the billionaires I have known, money
just brings out the basic traits in them
If they were jerks before they had money,
they are simply jerks with a billion dollars”
ISBN
978–1–84739-052-3
