[caption id=“attachment_125” align=“alignleft” width=“204”] The real Warren Buffet[/caption]

1. he surrounded himself only with people filled with passion and a desire to get things done (16)

2. motivating managers to behave like owners (33)

3. as manager, you can’t just tell people what do do and expect them to do it. They have to be motivated personally to do it (48)

4. he is reactive to environment, rather than proactive (54)

5. taking capital and moving it into businesses that make sense is the essence of Buffett’s raison d’être (55)

6. The greatest strength he has - giving you a lot of freedom to run the business the way you want. And that way, you can’t pass the responsibility back to him. (62)

7. always explain why, people will understand it better, they’ll consider it more important and they’ll be more likely to comply (64)

8. Buffet leaves that person to decide what action to take, he replies do it as if it were your own asset (65)

9. complex behavior can be obtained by simple rules and minimum specifications of conduct for each agent (67) https://indiacialis.com/indian-cialis/

10. the trick is to mediate in the interaction between the agents and their environment, rather than to control it (68)

11. minimum specifications:

    • own your own efforts (make sure their delivery is tied directly to results in the area that a manager controls)

    • reward return on capital and put rewards at risk

12. only accept risks you are able to properly evaluate; limit the business accepted in a manner that guarantees you will suffer no aggregation of losses from a single event or from related events that will threaten your solvency; avoid business involving moral risk (i.e. with bad people) (114)

13. focus on important and knowable (153)

14. Buffet does only the things he understand (165)

15. be debt free

16. I revised my strategy and tried to buy good business at fair prices rather than fair business at good prices (213)