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Investingis a marathon, not a sprint.
Just ask billionaire investor Warren Buffett, who has a surprisingly simple yet focused daily routine.
The markets down this morning, Buffett told the crew filming his routine.
Ill pass up the $3.17 and go with the $2.95.
He understands that seemingly small financial decisions can have massive consequences.
For example, imagine its 1965.
Warren Buffett has bought Berkshire Hathaway, and a share costs $19 that year.
You save 25 cents a day for 76 days, then take your $19 and invest.
Fast-forward to the holiday season of 2023.
Youve held onto your single Berkshire Hathaway share, which has now increased in value by nearly 4,400,000%.
Your 25 cents a day are worth $833,121.
The Workday Is Spent Doing Hours of Research
Buffett spends his workday reading in his office.
He spends the most time researching investments using company financial documents, investor reports, and industry publications.
When researching an investment, Buffett delves deeply into the companys story.
Understanding your investment target is a cornerstone of Buffetts financial strategy.
Note that word selected.
You dont have to be an expert on every company, or even many.
You only have to be able to evaluate companies within your circle of competence.
The size of that circle is not very important; knowing its boundaries, however, is vital.
When you understand what a company does, your research is more effective and efficient.
you’re free to interpret company financials and understand why the organization performed as it did.
More importantly, you’re free to critically assess strategy and decide whether it looks promising.
You dont need doctoral-level expertise, but understanding the basics is essential.
Winding Down for the Night
Buffett has always prioritized work-life balance.
This is noteworthy because, according to Finty, Buffett becomes frustrated when others dont respect his boundaries.
Taking personal time reduces stress, which can impair a persons ability to make rational decisions.
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