Warren Buffett and Steve Jobs – What They Have In Common

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What do two of the most successful businessmen in the history of the world have in common? We all know they both made more money than the GNP of several continents. Beyond the droves of cash, here are a few common threads you may not have known:

  1. Passion – The career advice both Warren and Steve, as I like to call them, gave was to do what you love. Have passion. I think they both read Emerson.
  2. Seriously Frugal (some might say cheap) – Even though their pockets overflowed, they didn’t live that way. Warren has lived in the same modest house in Nebraska for over 50 years and his license plate says THRIFTY.  Steve was known for his low-key outfit consisting of some ever-so-stylish New Balance running shoes, distressed Levi’s, the signature black turtleneck, 
  3. Liberal – Think all big business guys vote for big business? Not so much. Check out their campaign donations: Buffett and Jobs.
  4. Delving further than the competition – they went to great lengths to know everything they could as quickly as they could to stay ahead of everyone else. Warren actually had a deal with his paper boy to get his Wall Street Journal delivered at midnight so he could read it before everyone else had it. Steve and his gang at Apple created multiple prototypes using the same manufacturing equipment they used in China to ensure their team could evaluate and revise products until they were perfect.
  5. Secrecy – Warren never gives advices for specific stocks.  When he buys or sells himself, he actually employs third party proxies so the rest of the world isn’t tipped off. Steve made sure Apple’s security is like the secret service – except for the poor guy who had a few too many German beers. Most Apple employees don’t know what they’re working on. It’s revealed on a need to know basis, and most people don’t need to know!

Are these traits the secret to success? By applying these traits to their lives, have Warren and Steve impacted everyone reading this? This is for you to ponder. In the mean time, my iPhone is ringing. It’s Geico calling.

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