Warren Buffett: “Really Successful People Say No To Almost Everything” (2024)

FAQs

What was Warren Buffett's most famous quote? ›

"Price is what you pay. Value is what you get." Buffett is widely celebrated as the greatest value investor of all time – and with good reason. That's exactly why this 2008 quote resonates.

Really successful people say no to almost everything because they know the value of their time, energy and money. They only put their best efforts toward something they know is in line with the bigger picture.

“The difference between successful people and really successful people is that really successful people say 'no' to almost everything,” Buffett said. But how do you say “no” in a tactful way? And does saying “no” really help you get ahead in your career?

I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over. Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway. I buy expensive suits. They just look cheap on me.

Unable to bear the bureaucracy. According to Warren's own confession, his key weakness is the lack of patience when it comes to bureaucratic issues.

Saying no doesn't make you a bad person

Saying no doesn't make you any of those things. It only makes you protective of your time and energy, which is something we all deserve to be. If you're a yes-person because you believe saying no is selfish or wrong, it's time to let go of that belief.

Buffett himself has pledged that 99% of his wealth will go to philanthropy during his lifetime or upon his death. As of 2023, the shares he's already given away were worth about $50 billion based on their value at the time of donation, or about $130 billion given Berkshire Hathaway's stock value at the time.

The reason is simple: quiet people tend to be smarter than talkative people because they tend to be introverts, and therefore have a higher baseline of arousal.

A 70/30 portfolio is an investment portfolio where 70% of investment capital is allocated to stocks and 30% to fixed-income securities, primarily bonds.

He believes that the most important quality for an investor is temperament, not intellect. A successful investor doesn't focus on being with or against the crowd. The stock market will experience swings but Buffett stays focused on his goals in good times and bad. So should all serious investors.

What is Warren Buffett's method of getting rich? ›

Start Saving and Building Wealth Early

Begin accumulating wealth as soon as possible. This principle is derived from the concept of compounding, which Buffett says is the key to his wealth. Compounding involves earning returns on your investment's earnings, resulting in exponential growth over time.

Buffett presented a three-step exercise to help streamline his focus. The first step was to write down his top 25 career goals. In the second step, Buffett told Flint to identify his top five goals from the list. In the final step, Flint had two lists: the top five goals (List A) and the remaining 20 (List B).

Warren Buffet's 2013 letter explains the 90/10 rule—put 90% of assets in S&P 500 index funds and the other 10% in short-term government bonds.

Warren Buffett has said that 90 percent of the money he leaves to his wife should be invested in stocks, with just 10 percent in cash.

Warren Buffett once said that it's wise for investors “to be fearful when others are greedy and to be greedy only when others are fearful.” This statement is somewhat of a contrarian view of stock markets that relates directly to the price of an asset.