Thoughts and reflection – The Winning Investments Habits of Warren Buffet and George Soros

Thoughts and reflection – The Winning Investments Habits of

Warren Buffet and George Soros

Before I’d go to university, I worked in Norway for two years, I worked in the construction industri.

I started to work June 2007, the first weeks was just general labouring, or more like a period of ”work experience”. When i came back in August, after the summer vacation, I met a guy, who I hade the big honor to work with by my time in Norway.

I recognized this guy, but I can’t say I knew him, we was about the same age so I think I’m recognized him from school or something.

Anyway we worked together for two years, we shared the same company car and always worked in the same team. He was pretty restricted in the beginning, so we didn’t talk that much. After some weeks together we started to talk more, sharing our thougts and so on.

This guy wasn’t the social party type, he rather stayed home at the weekends worked for his father och just did some gardening at his parents house. That was a completely contrast to me, I was partying two days a week and always prefered to have people around me.

But he was so simple, his common sence was incredible. Even if we as very different, we became as best friends, I think the reason for why we aggreed so good was because we both had the same target – to become economically independent.

This guy saved all his money i stocks, he worked up 60 hours a week, earn good money and never spended a cent, in opposite to me, I spended much money.

He learned me much about money management, how all the habbits affects your life.

This man was a big fan of Warren Buffet – One of the richest persons in the world.

He talked a lot of him, a started to read books about Buffet, and I found out that my friend and Buffet seemed to share much of their values in life.

This short history made me choose to read the book ” The winning investments habbits of Warren Buffet&George Soros”.

The book is written of Mark Tier, an australian writer and buisnessman.

The book deals about how the mental habits affects the results in your investments.

Both Buffet and Soros main reason for investing money is for preserving them. They have criterias over when they will buy or sell stocks. They never deviate from the buy or exit strategies – something who is more than common for the average investor.

When the ”masters” see something that suits their criterias, they make it big – ”When we see something that makes sence, we’re willing to act very fast and very big”(page 152)

The book deals of lots of different views of the mental habits, and how hard it is to really follow your strategies. I think I’ve read 5-10 book about Buffet, and for each book I read am getting more and more convinced over that my ”buddy” will became a master investor.

Everything they do, act or say is very similar.

I feel very happy for my friend and his succes, Buffet have an an annual return on about 20% (page 8), and my friend had 200000 kr on the stock market when we met each other in 2007, now he commutes between 3 and 3,5 millions – Good result!

The books I have read about Buffet has learned me alot, but I think my friends behaviour had affect me even more, I hope I can adopt their habbits and become a successful investor.

Buffet and Soros always analyze how to avoid losses, they don’t just concentrate on the big profits, when avoiding the losses, the profits will come (page 17)!

It’s a tuff rule, especially if someone gives you an insider about a stock, and you don’t really have a clue about the stock, you just trust him. In that situations you get sick of the chance to make a huge profit.

Buffet is a big man, he has donated most of his fortune to Bill&Melinda Gates Foundation!