Friday, November 24, 2006

Aquamarine Fund Diary, Buffett, and Owning a Business

You can tell from the volatility breakout in my blog posts...that I have some time on my hands.  :)

Found some great posts by the Aquamarine Fund Diary.  Here's a post on Warren Buffett and the Chicago Graduate School of Business - trip to Omaha.  I really liked the following bullets:
  • Associate with people who are better than you. Marry up, employ up,
    work for your heroes. Associations rub off. Tell me your heroes, I’ll
    tell you how you’ll turn out. People in the room (us) have IQ, energy,
    and smarts to burn. No bad results will be due to deficiencies in this
  • Take one hour. Think of the one classmate who you’d like to own 10%
    of for the rest of their life. 10% of all of their future income. What
    do you think about? The person who others admire and want to work with.
    Person who works hard and gives others credit. It’s simple. Select
    those qualities for yourself.
  • "Now the fun part” who would you want to short? The guy who turns other people off.
I also liked this interview of Tom Murphy in The Wisdom of Tom Murphy.  In the full interview Murphy  encourages
"people, particularly those who are young but also experienced enough to know what's going on, to try starting a business because the rewards of being your own boss are wonderful."
Okay, readers...if you own your own business...give up the goods on how you came to the realization you wanted to run a business instead of working for whatever company you were working for.  Why did you feel the risk was worth taking?  And what business did you choose...something you were familiar with?  Something new?

And for those working for others...if you have thoughts of running a business someday...what type of business would you like to run?  And why?


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