Wednesday, May 12, 2004
"Learn from the World's Second Richest Man,"
by Susan Dunn, MA, Emotional Intelligence Coach
Warren Buffet is the world's second richest man (behind Bill
Gates). Unlike Gates though, "the Oracle of Omaha" as he is
called, earned all his money by investing.
Considering that marriage is one of the biggest investments
you will make in your life, let's see what Mr. Buffet can
teach us.
1. Keep a cool head.
Counter-intuitively, the stock market, long bastion of male
supremacy, is one of the most emotional things in the world.
As is love. Ditto for lust. Buffett has said an investor
doesn't have to be a genius to succeed, he or she just has
to avoid the big mistakes. As in love, i.e., there are
choices you can make that would be a big mistake (such as
marrying an active drug abuser). Avoid these.
2. Only invest in what you understand.
Avoiding the NASDAQ fiasco because he couldn't understand
it, Buffett recommends investing in solid companies you
understand, and patronize yourself. One of his investments
is Dairy Queen. He dines there, and has held interviews
there.
I think we could translate this into marry a good solid
person who's honest and transparent, and whose values are
understandable. Bypass the "hottie" or "gigolo" who's all
glitz and glamour, volatile and unpredictable.
And ... big AND ... understand marriage and what it entails,
or don't invest in it.
3. "You are neither right nor wrong because the crowd
disagrees with yuo. You are right because your data and
reasoning are right [and you manage your emotions]." ~
Warren Buffett
Do the homework and then marry the person who's right for
you. Ignore the opinions of others. Conduct your marriage
the way that's "right" to you, not others.
4. Don't buy low and sell high. Buy and hold.
Buffett is notorious for the long hold. He's never sold a
share of Berkshire-Hathaway, the king pin, and he's never
split the stock.
So . choose a good candidate you plan to stick with. Don't
get into day-trading in the marriage arena, and don't go
splitting your stock. Stick with your original investment as
long as it's good, and reap the rewards. Choose the best.
Don't worry about the rest.
5. Buffett's Investment Rule Number One: Don't Lose Money.
Buffett's Investment Rule Number Two: Don't forget Rule
Number One.
Marriage Rule Number One: Don't Marry a Loser.
Marriage Rule Number Two: Don't Forget Rule Number One.
6. "Investing is like batting a baseball except that you get
as many pitches as you want and you never have to swing.
Wait for the 'home run ball' before investing." ~ Warren
Buffett
If you have your act together as an adult individual with
good emotional intelligence, you don't have to marry anyong.
With no sense of urgency, you can afford to look 'em over
carefully, and wait for the home run ball.
7. "The ability to say 'no' is a tremendous advantage to an
investor. Most investment ideas should be said 'no' to."
~Warren Bufferr
As should most scenarios in the dating scene, and all
scenarios in the extra-marital scene. And what does it take
to be able to "just say no"? Being centered. Having
emotional intelligence. Being able to avoid momentary
temptations (like the NASDAQ back when) and sticking with
your original plan for long-term gain. Knowing exactly what
you're looking for. Getting the facts and trusting your
intuition.
Correllary: "As far as you are concerned, the stock market
does not exist. Ignore it." ~ Warren Buffett
Once you have chosen the stock, you are no longer in the
stock market. Ignore it.
Once you have married, you are no longer in the dating
market. Ignore it.
8. Buffett says he's "disgusted" by corporate bosses who
tout their companies while selling their shares. "These
business leaders view shareholders as patsies," he says,
"not partners."
Your marriage partner is a shareholder in your joint
investment. Don't treat him or her like a patsie by
appearing to be committed and then selling shares on the sly
. and you know what I'm talking about. Anything that cheats
the relationship. Anything.
As Buffett says, "wide diversification is only required when
investors do not understand what they're doing." Capisce?
9. "Lethargy, bordering on sloth should remain the
cornerstone of an investment style," says Buffett. "Most
success can be attributed to inactivity. Most investors
cannot resist the temptation to constantly buy and sell."
There's that word again ... "temptation." And what's the
divorce rate now? (50%) And the divorce rate for second
marriages? (even higher)
10. "Unless you can watch your stock holding decline by 50%
without becoming panic-stricken, you should not be in the
stock market."
Marriage-wise, you have to be able to ride the roller
coaster without panicking. It's "for better and for worse,"
remember? You have to be able to get through the really
difficult times without panicking.
On the other hand, you have to know when it's time to get
out. "'Turn-arounds' rarely turn around, says Buffett and
certain marriages won't work and can't be saved and it would
be toxic to remain in them.
(c)Susan Dunn, MA Psychology, Emotional Intelligence Coach,
http://www.susandunn.cc . Coaching for individuals,
executives and businesses, Internet courses, teleclasses,
programs and eBooks around emotional intelligence for
personal and professinal development.
Mailto:sdunn@susandunn.cc... for FREE ezine.
by Susan Dunn, MA, Emotional Intelligence Coach
Warren Buffet is the world's second richest man (behind Bill
Gates). Unlike Gates though, "the Oracle of Omaha" as he is
called, earned all his money by investing.
Considering that marriage is one of the biggest investments
you will make in your life, let's see what Mr. Buffet can
teach us.
1. Keep a cool head.
Counter-intuitively, the stock market, long bastion of male
supremacy, is one of the most emotional things in the world.
As is love. Ditto for lust. Buffett has said an investor
doesn't have to be a genius to succeed, he or she just has
to avoid the big mistakes. As in love, i.e., there are
choices you can make that would be a big mistake (such as
marrying an active drug abuser). Avoid these.
2. Only invest in what you understand.
Avoiding the NASDAQ fiasco because he couldn't understand
it, Buffett recommends investing in solid companies you
understand, and patronize yourself. One of his investments
is Dairy Queen. He dines there, and has held interviews
there.
I think we could translate this into marry a good solid
person who's honest and transparent, and whose values are
understandable. Bypass the "hottie" or "gigolo" who's all
glitz and glamour, volatile and unpredictable.
And ... big AND ... understand marriage and what it entails,
or don't invest in it.
3. "You are neither right nor wrong because the crowd
disagrees with yuo. You are right because your data and
reasoning are right [and you manage your emotions]." ~
Warren Buffett
Do the homework and then marry the person who's right for
you. Ignore the opinions of others. Conduct your marriage
the way that's "right" to you, not others.
4. Don't buy low and sell high. Buy and hold.
Buffett is notorious for the long hold. He's never sold a
share of Berkshire-Hathaway, the king pin, and he's never
split the stock.
So . choose a good candidate you plan to stick with. Don't
get into day-trading in the marriage arena, and don't go
splitting your stock. Stick with your original investment as
long as it's good, and reap the rewards. Choose the best.
Don't worry about the rest.
5. Buffett's Investment Rule Number One: Don't Lose Money.
Buffett's Investment Rule Number Two: Don't forget Rule
Number One.
Marriage Rule Number One: Don't Marry a Loser.
Marriage Rule Number Two: Don't Forget Rule Number One.
6. "Investing is like batting a baseball except that you get
as many pitches as you want and you never have to swing.
Wait for the 'home run ball' before investing." ~ Warren
Buffett
If you have your act together as an adult individual with
good emotional intelligence, you don't have to marry anyong.
With no sense of urgency, you can afford to look 'em over
carefully, and wait for the home run ball.
7. "The ability to say 'no' is a tremendous advantage to an
investor. Most investment ideas should be said 'no' to."
~Warren Bufferr
As should most scenarios in the dating scene, and all
scenarios in the extra-marital scene. And what does it take
to be able to "just say no"? Being centered. Having
emotional intelligence. Being able to avoid momentary
temptations (like the NASDAQ back when) and sticking with
your original plan for long-term gain. Knowing exactly what
you're looking for. Getting the facts and trusting your
intuition.
Correllary: "As far as you are concerned, the stock market
does not exist. Ignore it." ~ Warren Buffett
Once you have chosen the stock, you are no longer in the
stock market. Ignore it.
Once you have married, you are no longer in the dating
market. Ignore it.
8. Buffett says he's "disgusted" by corporate bosses who
tout their companies while selling their shares. "These
business leaders view shareholders as patsies," he says,
"not partners."
Your marriage partner is a shareholder in your joint
investment. Don't treat him or her like a patsie by
appearing to be committed and then selling shares on the sly
. and you know what I'm talking about. Anything that cheats
the relationship. Anything.
As Buffett says, "wide diversification is only required when
investors do not understand what they're doing." Capisce?
9. "Lethargy, bordering on sloth should remain the
cornerstone of an investment style," says Buffett. "Most
success can be attributed to inactivity. Most investors
cannot resist the temptation to constantly buy and sell."
There's that word again ... "temptation." And what's the
divorce rate now? (50%) And the divorce rate for second
marriages? (even higher)
10. "Unless you can watch your stock holding decline by 50%
without becoming panic-stricken, you should not be in the
stock market."
Marriage-wise, you have to be able to ride the roller
coaster without panicking. It's "for better and for worse,"
remember? You have to be able to get through the really
difficult times without panicking.
On the other hand, you have to know when it's time to get
out. "'Turn-arounds' rarely turn around, says Buffett and
certain marriages won't work and can't be saved and it would
be toxic to remain in them.
(c)Susan Dunn, MA Psychology, Emotional Intelligence Coach,
http://www.susandunn.cc . Coaching for individuals,
executives and businesses, Internet courses, teleclasses,
programs and eBooks around emotional intelligence for
personal and professinal development.
Mailto:sdunn@susandunn.cc... for FREE ezine.
