Most investors, when starting their journey, they all want to be the next Warren Buffet.
Like Buffet, Bill Gates is another envied being for most folks looking to grow their wealth to the next level.
Buffet has made his wealth literally through investments and earned the title of the investment guru.
Bill Gates, the co-founder of Microsoft, is on top of the list of the world’s wealthiest individuals with a net worth of over $85 billion.
The two individuals have a lot that you can learn as an investor and both an individual who wants to get to the top of the list of the richest. Here is what you can learn from the top billionaires.
According to Buffet, three factors come into play when investing or merely acquiring a company.
One of the things is to look for that company with a competitive advantage over a long period being run by a management team that’s able and honest.
Also, the purchase price has to be considered in ensuring that it’s not excessive.
But paying a higher price won’t be a bad option if the company in question has promising prospects. Further, looking into a business, it has to be essential and easy.
Optimism about the Future of America
It seems that both billionaires are optimistic about the future of America.
According to Buffet, the country will be on a constant move going forward without any stop.
On the other hand, Bill Gates cites innovation to be driven even further thanks to the country’s entrepreneurial spirit as well as support from research.
Risks are Important
Investing involves making decisions that are sometimes risky. However, it seems as if risks are important, after all.
Look at Bill Gates, is he the man who dropped out of Harvard University to settle for Microsoft?
According to him, he never considered it a significant risk but rather followed the passion and look who’s smiling now.
Buffet advises folks not to sleepwalk in life, but instead do what one really wants to do.
Giving up shouldn’t be an option when doing what you feel is right and good for you to do. Just die for it.
Personal Relationships are Essential
Relationships are also a vital part when one wants to make it all in life.
Both billionaires are of the same idea that there’re relationships that should be abandoned and others that should be kept close.
For instance, they advocate for folks to associate with individuals who are ahead of them to move in a similar direction.
According to Bill gates, spending much time with folks that bring the best in friends is the way to go for relationships. Challenges are what drive human hunger forward.
Automation and the Workplace
As many have already pointed out, automation has had a high impact on the workers as well as the workplace as a whole.
The billionaires agree that technology is pushing the world to limits, but job displacement needs to be dealt with.
They believe the government has a responsibility in dealing with the same.
In conclusion, there’s no denying that Buffet and Bill Gates started low, but they’re currently a force to reckon with.
There’re several things one can learn from them, but importantly they stress that sometimes it’s good to take risks and associate with folks that can push your investment ideas to the maximum.