Warren Buffett....The Billionaire Next Door

Did anyone catch The Billionaire Next Door, CNBC's interview with the 2nd richest man in the world, Warren Buffett?

I did. While I have some investments and I find that world somewhat interesting, I have never read anything about Warren Buffett. I was well aware of who he was but I never spent any time in looking into "behind the investor."

....and that has been a mistake.

As I watched the program, I scrambled to find something to capture notes upon and began madly scribbling. The following are some pearls of quotes and my observations that I found worthy of note. This guy gets what it is all about...keeping it simple. Remember, as you read the below, this is out of the mouth or observations about the SECOND RICHEST man in the world.

-He has lived in the same modest house for 48 years - (I wonder how many times his wife has redecorated ... do you think they ever got into an argument about a budget for the projects?)

-"How do you maintain ethics and not be greedy?" he was asked. "I had a great time when I was 20. I eat the same things now that I did then. I wear the same clothes. The clothes may be more expensive but they look cheap when I put them on. I get to do what I like and work with great people. Why would I want to be greedy? I have everything that I need."

-"If I had a boat, I'd have a 16 person crew. They would probably steal. They would be sleeping with each other and getting in trouble. What do I need that for? I just need friends with boats!" (I think that I am drawn to this one because I have been saying for years, "I don't need a second home....I need friends with second homes."

-"I have no social contacts. I know what I like. If I am in a seatsuit in my chair with a bucket of popcorn watching a good Nebraska football game, I am happy."

-Every Buffett family member has gone to public school

-Buffet travels with no entourage....and likes it that way. He gets in elevators with strangers. He figures, "why should I worry? I have no enemies."

-"Ethical business is good business"

-"Stay away from credit cards. The letters that I get from people in trouble all revolve around two things...health and credit cards."

-"Invest in YOURself"

-"Trust your gut"


-"Your standard of living does not equal your cost of living"

Finally, how cool is it when someone can pledge THIRTY ONE BILLION dollars to someone else and, when asked why, says, "they are better at giving it away than I am." What a masterful piece of delegation! I am not sure I would want to be Bill and Melinda Gates and have that piece of responsibility heaped upon me!