
Warren Buffett: “Really Successful People Say No to Almost Everything” - deegles
https://medium.com/accelerated-intelligence/warren-buffett-really-successful-people-say-no-to-almost-everything-ab78832ffebc
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nabla9
> Buffett is very clear on what data he needs to know in order to make an
> investment.

This is important lesson to even non-professional investor like me.

You should not use the data that is given or easily available to you just
because it's easy to get. You should think first what you need to know and
then get that data. Just because it's everywhere, does not mean it's valuable.
In fact, it's usually the opposite.

Examples:

* Everybody pushes you information of how much their whatever has gained in 1,3,5 years compared to stock index. But that's too short period for stocks. It's usually not relevant information.

* Gains from bottom to bottom or top to top in stock market over market cycles is something you might want, not from bottom to the current highs as is usually used in marketing.

* Price index is everywhere but if you save for long term, you actually want to see what is the total return index. If you want to compare Berkshire Hathaway to SP500 you want to compare to SP500TR, not to the price index (BRK does not pay dividends).

* Taxes, costs, third party risk etc. must be counted in. Low cost index fund may have high hidden drags baked in because in some countries tax dividends paid to foreign firms differently from locals.

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yesenadam
No. _Really_ successful people aren't those who merely turned money into more
money. (I also said _No_ to reading the article)

Chesterton says it a lot better than I could:
[http://www.gutenberg.org/files/11505/11505-h/11505-h.htm#THE...](http://www.gutenberg.org/files/11505/11505-h/11505-h.htm#THE_FALLACY_OF_SUCCESS)

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sky_nox
>Buffett Strategy #6: Avoid the technology bandwagon

That's not true. Buffett bought a lot of Apple stock in 2016.

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tqkxzugoaupvwqr
From my understanding Buffett doesn’t invest in Apple because of a certain
technology but because he sees them as a lifestyle brand with a sticky
ecosystem.

