Interesting Read: Advice from Warren Buffett

While catching up with Greg Speicher’s blog, Ideas for Intelligent Investing, I stumbled upon the notes from a meeting between Warren E. Buffett and the MBA students at the Richard Ivey School of Business. The legendary value investor spent two hours on March 30^th, 2012 with the students on a variety of topics. Below are my two key take-aways from the discussion. For those interested in reading the complete notes, they can be found here.

Follow your passion

Throughout the dialogue, this idea came up repeatedly. I’ve heard this from a number of successful people, but this is my first time hearing it from Warren. When asked directly, “What is the most important thing you have learned in your life?” his answer was “Find your passion.” Warren told the audience he doesn’t know anyone who is passionate and doesn’t have a good life. For the students still looking, he suggested ask themselves the question “Where am I going to have the most fun?”

Opportunities are still out there

Many investors at some point ask themselves if the opportunities that were there for Warren Buffett are still out there today. His response was a resounding YES. Warren acknowledged that the internet has provided people with better information than ever before, but people still act irrationally. He re-iterates that with a little hard work the good deals can still be found.