20 July 2013

Day 97: The richest man in the world

I just watched a short documentary about Warren Buffett who is the richest man in the world. Well he and Bill Gates take turns each year, but I think you get the point. Watching this movie is the part of my agenda to learn from the rich in order to copy their behavior and eventually also become rich.

While watching the movie some facts surprised me very much. He has a very simple philosophy about how to pick the investments and how to make money on the long term. However, what surprised me the most is how he eats junk food like burgers and Coca Cola and does not care very much about healthy diet. Also what surprised me was that he invested in businesses like Coca Cola and large corporations and that made him multi billionaire. He does not care what the impact of companies is on the society, the basic objective is that he profits from the business and that he makes a lot of money. Also he does not use computers and calculators to make detailed calculations but only reads paper reports abut the businesses and then decides to buy them mostly without even visiting the company or knowing the manager of the company that he buys face to face. 

Documentary firstly shoes his public image and many of his followers that want to pick his brain and also become very rich by hearing what he has to say and reading his autobiographies. However at the end some information is disclosed where it is clear that there is more than meets the eye. He does not only invest in companies directly but also trades stocks and other financial instruments and these bring him the most money without most of the people ever realizing this fact. So it is clear that a simple documentary can not show all the real facts about how Mr. Buffett earned billions and we can only speculate about how he creates all the immense money-flow.

I forgive myself that I have accepted and allowed to feel anger towards Mr. Buffett when noticing that he eats and drinks junk food and that he supports manufacturers of junk food due to believe that big brand like Coca Coca have done nothing good for the society instead of realizing that by being angry towards others does not assist me or others in any way possible.

I commit myself to research the ways how rich people make money but then engage and invest in businesses that assist people to improve their health and quality of life.

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