A fast announcement earlier than I start as we speak’s put up – My new e-book, Boundless, is now out there for ordering!
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Warren Buffett not too long ago printed his 2024 letter to shareholders of Berkshire Hathaway. Numerous classes, as standard, however the one level that stands out to me is his replace on this 12 months’s AGM in Omaha, the place he’ll be seen for a a lot shorter time than regular.
As I wrote earlier, I made the journey to Omaha final 12 months. For years, I had put it off. There was all the time a cause. However deep down, I knew that if I didn’t go, I might remorse it. So I went. It was about sitting in that enviornment, feeling the vitality of over 30,000 individuals who had traveled from everywhere in the world—not simply to listen to inventory market recommendation, however to soak up a philosophy. A mind-set. A way of life.
It was about seeing Buffett, who together with Charlie, had constructed an empire on good choices, frequent sense, and an unwavering dedication to rationality.
It was about him and realising that, regardless of his wealth, what made him actually wealthy was one thing else—his rules, and his capacity to maintain enjoying the sport he cherished for thus lengthy.
Charlie’s passing in 2023 was the primary laborious reminder that this period is ending. Buffett’s phrases on this letter (“disbanding the assembly sooner than common time”) really feel just like the second.
Buffett has spent his life instructing individuals how to consider cash, however the deeper lesson for me has all the time been about “time.”
Cash, in the event you make investments correctly, can all the time be earned again. Time can not.
My thoughts says (coronary heart doesn’t agree) that this 12 months could also be Buffett’s final AGM. Or perhaps he’ll shock us all and hold going. However whether or not that is the final time or not, personally for me, his message stays the identical: Don’t waste time. Don’t defer what issues. Don’t let life slip by whereas ready for the proper second. In investing, in studying, in dwelling—act with conviction.
As a result of on the finish of the day, the largest danger isn’t shedding cash. It’s trying again and realising you by no means actually lived.
Anyway, I’ve ready some notes on Buffett’s 2024 letter. Click on right here to learn my notes.
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With respect,
– Vishal
The Sketchbook of Knowledge: A Hand-Crafted Handbook on the Pursuit of Wealth and Good Life.
It is a masterpiece.
– Morgan Housel, Creator, The Psychology of Cash
