Some of the world's highest achievers have one thing
in common: it isn’t a high IQ, nor is it an incredible lucky streak, but their
appreciation for reading. Books were their most profitable investment.
From $2 to $20 billion Two teenage boys found
employment at a grocery store in Omaha, Nebraska. The older boy, from a poor
family devastated by the Great Depression, bred and sold hamsters for spare
change. The younger boy, grandson of the store owner, had been delaying college
and working odd jobs, like selling chewing gum and coke bottles door to door.
Back then, each boy made about $2 a day. Just a few decades later, they’d be
raking in $20 billion in profit per year with their conglomerate, Berkshire
Hathaway. Who were these boys? None other than Charlie Munger and Warren
Buffett.
How did they become the most successful investors America has ever
seen?
Buffett spends 80% of his day reading
Fast track to 2007, the 84 year-old
Charlie Munger, reveals to a crowd of aspiring law students the secrets to
their success:
“I constantly see people rise in life who are not the smartest,
sometimes not even the most diligent, but they are learning machines. They go
to bed every night a little wiser than they were when they got up and boy does
that help, particularly when you have a long run ahead of you.”
Supposedly, in
the early days of Buffett’s investment career, he would read 600-1000 pages in
a single day. Nowadays, he still dedicates 80% of his day to reading.
“Read 500
pages…every day. That’s how knowledge works. It builds up, like compound
interest. All of you can do it, but I guarantee not many of you will do it.”
His takeaway for everyone: no matter where you are in life, keep on learning
and you will succeed.
The billionaire book club
Buffett and Munger are not the
only ones who credit their success to reading.
Tech entrepreneur Elon Musk
reportedly learned how to build rockets by reading books. Musk was bullied a
lot as a child in South Africa. He found comfort in fantasy and science-fiction
books, which inspired him to leave a legacy in the world.
Bill Gates, the
richest man in the world and a lifelong bookworm, reads about 50 books a year,
but strictly nonfiction ones. Although he gets to visit a lot of places and
meet interesting people, he would still rather read books to acquire new
knowledge.
Similarly, Mark Zuckerberg invited the whole world to join him on
his quest to read a book every two weeks in 2015.
So, what are your reading
goals?
Want to go to bed a little wiser tonight?
Although reading is valuable,
most people see it as a chore. Why read when you can end the day with your
favorite TV show? Or a nice gathering with friends?
What if you could get all
the benefits of reading without giving up your other interests?
You can!
Blinkist is a learning app that transforms the world’s best nonfiction books
into 15 minute reads.
You can learn about rocket science over breakfast, stock
trading over lunch, and the 7 Habits Of Highly Effective People over dinner.
You can also learn on the go with Blinkist audio. This way, you can become a
learning machine!
