Do you think super investor Buffett born with magic investing qualities? Or, do you believe he has extra ordinary qualities than anyone in this world? If you think so, you are totally wrong. Buffet is just an ordinary person born in Omaha with ordinary qualities. If it is, then what magic he had done to develop such qualities that brought him ultimate success? There would be lots of questions and doubts you may have.
Read this article to know the top 5 magic qualities Buffett have and which brought him to the top of investor world.
Yes, he has not born with any extra ordinary qualities than all of us have. It is true, but he had succeeded by developing all important qualities required by a successful investor.
Yes, he has not born with any extra ordinary qualities than all of us have. It is true, but he had succeeded by developing all important qualities required by a successful investor.
He had polished the skills to the right extend. His efforts finally gave him an ultimate result of fantastic success as a super investor!
1. Passion
Buffett has right passion to investing. No doubt. He had identified his passion at the time of childhood and had done his maximum to develop this passion to the right level. Those who have read about him may know his childhood activities and how it later helped him to become a successful investor.This is an exciting lesson for all investors. Remember, any effort that have enough passion, finally reach to success it really deserves. Buffett is the best example to learn how one can identify his passion and how it can develop to next possible level to achieve incomparable success!
2. Common Sense
Have common sense, have common sense. This is not a word from me. These are the word from most successful investors in the world. If you buy and read the classics written by Benjamin Graham or Philip Phisher, majority of their advices focused based to the use common sense.If you go through the investing activities of Warren Buffett, you can feel the role of common sense played in each action. Investor and investment success highly required approaches based on common sense.
For an example, when investing on a monopoly company in the right time, you are not only protecting your money from huge lose but also, utilizing the opportunity to grow your wealth to the maximum by utilizing the popularity of the product or service among public!
This is happening by the given interest of public to the product or service that they are not able to survive without. If it is the only company manufacturing such product or service that public always want, chances of closing out or losing invested capital is merely ‘none'.
Buffett used this common sense approach when selected his investment candidates and that lead him to the right success!
3. Discipline
Discipline is the other name of Warren Buffett. If you read more about him and his activities, you will amaze by knowing the discipline he had shown! Yes, he is a disciplined investor and developed this quality from the childhood itself.Discipline known as the first mantra of any investor and a most required quality for each investor to learn and develop.
I have already covered the requirement of discipline with number of articles in this blog and which itself shows the importance of building this quality.
4. Determination
Buffett has high level of dedication to this job. He never crossed or compromised with this quality at any time in his career or life. Determination to the job considered as the door to success.This is a lesson for those who claiming as investor but, considering investing as a part time hobby or business.
Always remember the requirements of having dedication and determination to the work. This is not only applicable to investing but applicable to every area.
5. Patience
Let the rain come with water or rock. I am bothered least. This is the approach of Warren Buffett! I never heard or read about any situation that put him panic.Whether it is a huge market correction or long lasting economic recession, steep volatility of the prices of stocks where he invested heavily,
Buffett never missed the coolness and calm. This is the result of patience he have practiced and applied self.
Conclusion
These are the five magic qualities considered as the pillars behind the success of Warren Buffett. We have lot to learn from his life, qualities and activities. We have lot to do to develop such right qualities to become successful in life or the area where we really committed to. I don't believe anything impossible if I really want to achieve and when trying hard for that. An honest self assessment and putting little effort before committing to anything, certainly produce amazing results. Success will be always yours.
