Motivation Daily by Motiversity - Warren Buffett Leaves the Audience SPEECHLESS | One of the Best Motivational Speeches Ever

Episode Date: September 14, 2022

Warren Buffett, famed investor, CEO of Berkshire Hathaway, American business magnate, investor, and philanthropist, delivers one of the best motivational speeches you will ever hear."You only get one mind and one body. And it's got to last a lifetime. But if you don't take care of that mind and that body, they'll be a wreck 40 years later...it's what you do right now, today, that determines how your mind and body will operate 10, 20, and 30 years from now."― Warren BuffettCommentary by Rachel Edge from MotivationHubSpeaker:Warren BuffettWarren Edward Buffett is an American business magnate, investor, and philanthropist. He is the chairman and CEO of Berkshire Hathaway and one of the most successful investors in the world. He has a net worth of over $103 billion as of August 2022, making him the world's seventh-wealthiest person.https://twitter.com/warrenbuffetthttps://www.berkshirehathaway.com/Music:Epidemic Sound Hosted on Acast. See acast.com/privacy for more information.

Hello listeners, Motivosity is excited to share that we have launched a new podcast called Morning Motivation by Motivore. If you are looking to start your day with positivity and the most uplifting motivational audio, this is the show for you. For today's episode of Motivation Daily by Motivority Podcast, we are sharing a recent episode from the Morning Motivation Podcasts. If you like it, go follow the show. New episodes are being released every week. The link is in the description. My dad had various nicknames for me. He'd call me fireball sometimes because I'd start little businesses.

He didn't care about money at all. He believed very much in having an inner scorecard. And I never worry about what other people are thinking about you. You know, just, if you know why you're doing what you're doing, that's good enough. When I want to do something, I always want to do it big. I've said many times that 65 or 70, and the people that you want to have love you actually do love you, you're a success. Some people should not own stocks at all because they just get too upset with price fluctuations. If you're going to do dumb things because a stock goes down, you shouldn't own a stock at all.

The first books I read on investment were actually in my dad's office. I just read and read and read. I probably read five to six hours a day. I mean, I figured out very early, you don't have to be that smart of this business, which is fortunate. But you do have to have the right temperament. The best gift I was ever given was to have a father that I had when I was born. Known as the Oracle of Omaha, the 91-year-old Warren Buffett is one of the most successful investors of all time. He went from buying his first stock at age 11 to running Berkshire Hathaway,

a multinational holding company with total assets nearing $1 trillion. Often appearing on lists alongside Bill Gates and Elon Musk, his current net worth is $105 billion, placing him as the seventh richest person in the world. Despite such enormous wealth, he maintains a simple lifestyle. He lives in the same home that he bought back in 1958 for $31,500. He makes his daily commute in his 2014 Cadillac XTS, often stopping by McDonald's for breakfast before heading into the office. So for someone with such a simple routine and more money than he could possibly spend,

what makes him happy? I would have to be honestly say that what makes me happiest is what I'm doing what I'm doing. I know I'll win over time. That doesn't mean I'll beat everybody else or anything like that, but I'm in the game that's very, very, very easy if you have the right lessons in your mind about what you're buying. I'm not buying stocks. I'm like, this is overwhelmingly American business. And I'm happy when that's happy. when that's happy, when that's what I'm doing it.

I'm happy when stocks are going down. I'm happier when stocks are going down because I can buy more of them with the same amount of money. I'd be happy if I was a farmer. I want farmland to go down, so I could buy more average. It just makes sense. The best boat you can have is your own talent.

I mean, they can't take it away from you, the inflation can't take it from you, and taxes can't take it from you. So when I talk to students, I see these students and I tell them, you know, you're a million-dollar asset. I would pay you $100,000 to the MBAs for 10% of the earnings for the rest of your life. So that makes you a million-dollar asset. Now, if you can do something and increase that value, 50%, if you can learn to communicate better verbally or in written form, and you become 50% more than that's $500,000 just by improving yourself.

I mean, nobody can take that away from you. And so I urge everybody, you know, when they're... I talked to them in high school about this and colleges. Just develop the habits. You've got the brain power, you've got the energy, but develop the habits of success. And look around you at the people that you admire, and list what makes you admire them

compared to somebody else that looks equally strong or equally talented. And those are things that you can do. I mean, just write them down. And, you know, people like people that are, they like them, if they're humor, if they're friendly, if they're, if they give credit to the other fellow. I mean, and they don't like them if they're stingy, you know,

or they overstate and overpromise and all those sort of things. Well, that's a decision you make. So I encourage everybody to build your own mode around yourself. Accumulating such a large net worth doesn't happen if you're average at what you do. Clearly, Warren Buffett is at the top of the investing game. Here's some of his best investing advice. All you have to do is just buy across. of America and they never listen to people like me or read the papers or do anything

subsequently. They think that because you can trade, you should trade. You buy a farm, you buy an apartment house, you can't resell it tomorrow. And the cost of moving around or you. Now you get something handed to you liquidity, you know, which is instant. You can sell and the cost of doing it are pennies, you know, compared to other kinds of investment activity. So because they can so easily move around, they do move around. And moving around is not smart than investing. By far the best investment you can make is in yourself. For example, communication skills.

I tell the students that come, they're going to graduate schools and business, and they're learning all these complicated formulas, all that. If they just learn to communicate better, both in writing and in person, they increase their value at least 50%. No, I mean, if you can't communicate somebody, he says, you know, it's like winking at a girl in the dark, nothing happens, you know, basically. And you have to be able to get forth your ideas. And that's relatively easy. I did it myself.

It's just hugely important. And if you invest in yourself, nobody can take it away from it. Well, I've advised, you know, the most important thing is really who you associate with. You want to associate with people that are better than you are. I mean, basically, you'll go in the direction of the people that you associate with. And you want to have the right heroes. You want people, if you want to emulate somebody, you better pick very carefully who you want to emulate. And obviously, you can't pick your parents.

They're going to have an enormous influence on you, but you don't get a choice on that. But you get choices as you go down the line. And who you admire, who you want to come to you want to come. copy and the most important for most people in terms of that decision is their spouse. It's also important in terms of a partner in business, but the partner in life is the most important. You want to pick a spouse that's better than you are, and then he or she, and you hope they don't figure it out too fast. I'll leave you with this metaphor Warren uses to encourage everyone to take care of themselves. I was in high school, almost a third as long as the

country has been around. And when I was in high school, I really only had two things on my mind. Girls and cars. And I wasn't doing very well with girls, so we'll talk about cars. But let's just imagine that when we finish, I'm going to let each one of you pick out the car of your choice. Sounds good, doesn't it? Pick it out any color, you name it. It'll be tied up with a bow, and it'll be at your house tomorrow. And you say, well, what's the catch? And the catch is that it's the only car you're going to get in your lifetime.

Now, what are you going to do knowing that that's the only car you're ever going to have and you love that car? You're going to take care of it like you cannot believe. Now, what I'd like to suggest, you're not going to get only one car in your lifetime, but you're going to get one body.

and one mind and that's all you're gonna get and that body and mind feels terrific now but it has to last you a lifetime you get exactly one mind or one and one body in this world and and you can't start taking care of it when you're 50 by that time you'll rust it out if you haven't done anything so you should you should really make sure that you just remember that you just got one mind and body to get through life with and to do the most with it