Here as I gleaned them are the secrets of Buffett's genius: 1. Simplicity. He learned when he was young that he had a highly circumscribed "circle of competence," as he likes to say—basically, the love and study of good businesses. He stayed within that circle, forever. His judgments are filled with homespun simple analogies. "Leave yourself a margin of error. Don't try and drive a 9800 pound truck over a bridge that can only support 10,000 pounds."
2. Study, concentration. The thing Buffett likes to do most is read. He spends 80 percent of his time reading, company reports and journalism. He is a kind of luftmensch. Indeed, 45 years ago, his neighbor turned down an opportunity to give him $10,000 (a stake now worth $400 million) because he couldn't see giving money "to a guy who doesn't get up and go to work in the morning."
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2. Study, concentration. The thing Buffett likes to do most is read. He spends 80 percent of his time reading, company reports and journalism. He is a kind of luftmensch. Indeed, 45 years ago, his neighbor turned down an opportunity to give him $10,000 (a stake now worth $400 million) because he couldn't see giving money "to a guy who doesn't get up and go to work in the morning."
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