When Warren Buffett acts, people pay attention. The 85-year-old has built himself a fortune of more than $65 billion, starting from around $6,000 when he was just a teenager. Amassing that kind of money takes more than just luck, and that’s why so many people carefully listen to everything he says, and analyze every move he makes.
Here are some examples: Buffett recently invested money overseas — and analysts throughout the financial world immediately stopped everything to ask why, how, and where. Also, whenever he makes any moves in the stock market, it creates a big ripple effect throughout the markets. The man is a financial force unto himself, and can single-handedly cause big fluctuations through buying or selling certain stocks.
That’s how Buffett’s billions were earned — through investing. He’s earned himself the moniker ‘the Oracle of Omaha‘ by sticking to certain strategies, and letting his money grow over time. He’s famously said that the biggest factor contributing to his investing success is that he’s in it for the long-term, and doesn’t necessarily make moves based on the daily ups and downs of the markets.
Naturally, millions have paid close attention to Buffett because they want to emulate him. The problem, of course, is that most people don’t have billions, millions, or even thousands of dollars in capital with which to invest. So, we have to dig a little deeper to see the underlying strategies and habits that Buffett employed to build himself into a financial giant. That may include daily habits, like what time he wakes up, exercise and fitness routines, or even diet.
A lot of those things can be difficult, if not impossible, to figure out. He may change them. Who knows? But there is one thing that we do know about Buffett, and it’s regarding how he spends a great deal of his time. And it’s something anyone can do — all you need is a library card, and some flexibility with your time.
It’s reading, and Buffett says he spends roughly 80% of his time doing it.