Commentary: Turning to Buffett, Bogle and Buddha for wisdom on how to invest
By Paul B. Farrell, MarketWatch
ARROYO GRANDE, Calif. (MarketWatch) — Last May, 35,000 shareholders crowded into the Berkshire Hathaway annual shareholders meeting. One of the faithful asked a fundamental question: “What is the secret to value investing?”
According to an article in Harper’s Magazine — “The Church of Warren Buffett: Faith and Fundamentals in Omaha” — Buffett replied with all the serenity of the Buddha: “Independent thinking and inner peace.”
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Independent thinking? Traditional left-brain wisdom you’d expect from a Western leader. But inner peace? That’s hot Eastern wisdom served with down-home Nebraskan wit by Buffett the Buddha.
Recently, I reflected on the world’s wild ride since the catastrophe Wall Street’s Scrooges created more than a year ago. Through it all the Lazy Portfolios were, like Buffett, quite serene. Check out our Lazy Portfolio pages.
I started wondering how the inner peace and wisdom of three of my heroes — Buffett, Bogle and Buddha — would translate into meditations to help Lazy Portfolio investors. Suddenly it all came together in the “Zen millionaire’s” 12 principles we’ve written about before.
Here’s how I see our three wise men meditating on Lazy Portfolios in 2010:
2 Comments. Leave new
I can’t believe you are suggesting people invest in the stock market for long term growth! The market has gained nothing over the past 10 years, nothing. And despite the industry that has grown up around Buffett, where people get rich telling others to emulate him, the average person just can’t. Buffett doesn’t invest in the market, he leverages his saintly reputation to buy large somewhat struggling companies and turn them around with great managers. Comparing that to investing in stocks is a bridge too far. My advice: work hard, save and be politically active; we need to change the laws that favor the few like Buffett over the average worker.
We’re not suggesting anything. We’re simply linking to a news story that touches on meditation and Buddhism.