📖Warren Buffett
Continuous Learning
Relentless reading and learning is the most underrated investment strategy.
I just sit in my office and read all day. That's all I do.
🏠 Everyday Analogy
📖 Core Interpretation
Warren Buffett reads for 5-6 hours every day, and Charlie Munger is often described as "a book with two legs." Continuous learning is the only way to expand one's circle of competence.
💎 Key Insight：Buffett spends 80% of his working day reading. This isn't leisure — it's how he builds mental models, spots patterns across industries, and develops conviction. Knowledge compounds like money: each new insight connects to previous ones. The investor who reads the most annual reports, industry journals, and history books has the biggest advantage.
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❓ Why It Matters
Reading Materials: Annual reports, 10-K filings, biographies, industry journals, and newspapers. The key is to read extensively and accumulate the compound interest of knowledge.
🎯 How to Practice
"Go to bed each night a little wiser than when you woke up." Knowledge, like compound interest, accumulates over time to create a tremendous gap.
🎙️ Master's Voice
I just sit in my office and read all day. That's how knowledge works. It builds up, like compound interest.
Buffett spends 80% of his working day reading. He reads 500 pages a day of annual reports, newspapers, and trade publications. When he found a company called GEICO in a Moody's manual in 1951, that single reading session eventually led to Berkshire owning the entire company.
⚔️ Practical Guide
✅ Decision Checklist
- Am I reading at least 1 hour daily about investing?
- Do I read primary sources (annual reports) not just news?
- Am I learning from both successes and failures?
- Do I take notes on what I read?
📋 Action Steps
- Set a daily reading goal (start with 30 minutes)
- Subscribe to annual reports of companies you follow
- Read biographies of great investors
- Keep an investment journal of lessons learned
🚨 Warning Signs
- Getting investment ideas from social media only
- Not reading annual reports before investing
- Relying on summaries instead of primary sources
- Stopping learning after initial success
⚠️ Common Pitfalls
Reading is Enough - Think Deeply, Don't Just Passively Receive Information
Read Only Investment Books - Interdisciplinary Reading Can Provide Unique Insights
📚 Case Studies
1
Warren Buffett's Daily Reading Habit (2015)
Read 500 pages every day.
✨ Outcome：It has accumulated a vast knowledge base over several decades.
2
1998 University of Florida Speech (1998)
Studying Physics, Psychology, and Biology
✨ Outcome：Developing a Distinctive Mental Framework
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