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somu0915
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   Posted: 12/Jun/2012 at 12:31pm |
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I don't think he would have been successful in other areas where intelligence is required.
But luckily he's got this amazing patience and discipline ability, which got him this far in investing.
He got the right skills where he has the interest.
As he says - "I am wired for investing".
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manish_okhade
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Posted: 12/Jun/2012 at 12:44pm |
Originally posted by somu0915
I don't think he would have been successful in other areas where intelligence is required.
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True but except for few other reasons like self satisfaction, personal goal etc why else one apply brain? I guess sole purpose is to earn the money.
For example take the case of Quantitative Finance. In this domain, only people who are good in Maths and has PHDs are allowed to work. These people develop algorithms for trading purpose. I am not aware of anybody from this area is remotly closer to Warren so far.
Edited by manish_okhade - 12/Jun/2012 at 12:49pm
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ameydesai
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Posted: 12/Jun/2012 at 5:31pm |
| Originally posted by manish_okhade
True but except for few other reasons like self satisfaction, personal goal etc why else one apply brain? I guess sole purpose is to earn the money.
[/QUOTE
Sorry manish ji,
I would differ here by asking one further question, Why does one earn money- To be Happy. So it is important to know what makes one Happy. |
Sorry manish ji,
I would differ here by asking one further question, Why does one earn money- To be Happy. So it is important to know what makes one Happy. It is not necessarily money for everyone.
By the way -
Personal Goal & Satisfaction are not only other reasons but they are big enough reasons for which one uses his/her intelligence/brains. Hence a lot of Intelligent & Not So Rich people have died happier than people who were Richer than them and had applied brains to reach that stage.
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Arise, Awake and Stop Not till the Goal is reached
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somu0915
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Posted: 12/Jun/2012 at 5:40pm |
Originally posted by ameydesai
Hence a lot of Intelligent & Not So Rich people have died happier than people who were Richer than them and had applied brains to reach that stage. |
Beautifully said. How many people think of dying in a peaceful and satisfied manner rather than to run a rat race for money.
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manish_okhade
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Posted: 12/Jun/2012 at 5:52pm |
Originally posted by somu0915
Originally posted by ameydesai
Hence a lot of Intelligent & Not So Rich people have died happier than people who were Richer than them and had applied brains to reach that stage. |
Beautifully said. How many people think of dying in a peaceful and satisfied manner rather than to run a rat race for money. |
Very much true!
Here i do not mean to hurt or challange anybody. I am simply flowing with the context why Warren feels super iQ is not required to make great money in the investing.
Agreed, happiness is a state of mind and nothing to do with money.
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LearningToFly
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Posted: 12/Jun/2012 at 11:47pm |
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Come on Guys. Warren Buffet is just being polite. He is extremely intelligent. Don't confuse his humility with any other thing. Even Einstein said, the more I work, the more intelligent and lucky I become. It would be foolish to think Warren Buffet is not intelligent.
Remember he was the only guy to have scored A+ in Benjamin Graham's subjects. He went to one of the top universities in the world. His views and ideas are solicited and respected all over the world by leaders, economists, and bankers. If someone thinks that this is not because of intelligence, he is just fooling himself.
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Success... at all cost.
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S.Varghese
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Posted: 12/Jun/2012 at 12:10pm |
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In Jack Welch's book - Straight From the Gut - He mentions Warren Buffett as "The smartest guy in any room".
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Fools rush in where angels fear to tread.
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Vamsee
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Posted: 12/Jun/2012 at 3:07am |
Also do not forget that he just says that if you have 150 IQ you can afford to give away 30 points of IQ but he does not say that if you have an IQ of 80 you would do wonderfully in stock markets  .
Indirectly he is saying that you have to be in the top 10% and not just "average". After that threshold is crossed there is no incremental gain from high IQ and everything else depends on temperament.
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May you live in interesting times
-- Ancient Chinese Curse
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