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As he announces his departure from Berkshire Hathaway, Warren Buffett shares career advice, highlighting the importance of good company in the workplace and long-term decisions.
Warren Buffett will leave command of Berkshire Hathaway at the end of this year.
The announcement was made by himself, during the annual shareholders meeting held on May 3.
Despite the change, Buffett will remain as chairman of the company's board.
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At 93, Buffett has transformed Berkshire into one of the largest conglomerates in the United States.
When he took over in 1965, the company was a struggling textile company.
Today, it is worth more than US $ 1 trillion. With one luck estimated at US$160 billion, the investor is recognized globally for his long-term vision and conservative style.
Career Starter Advice
During the meeting, one of the participants asked Buffett to share lessons learned early in his career.
Instead of highlighting numbers or financial strategies, the billionaire talked about people. “Who you associate with is extremely important“He said.
Buffett said that, throughout life, people end up following the behavior of those they live with. “You will see your life progress in the direction of the people you work with, admire and become your friends.. "
According to him, the most important thing at the beginning of a career is not the salary. “Don't worry too much about starting salaries and be very careful who you work with.“, he warned.
For Buffett, choosing a healthy and inspiring environment makes all the difference in his professional future.
Work with people you admire
Buffett also spoke about his own experience with bosses. He had five throughout his life. He liked them all.
Still, he preferred to pursue a career on his own.”But if you find wonderful people to work with, this is the place to go.", said.
He reinforced that working with people you respect and who have good habits can directly influence your attitudes. “You will absorb the habits of the people around you.“He said.
Buffett also advised against taking jobs in places where “very stupid things are happening”. For him, this can lead to bad decisions and put his career at risk.
Avoid dangerous shortcuts
One of Buffett’s most direct warnings was against shortcuts and risky strategies. He referred to practices such as borrowing money for investments and buying “junk actions". "You have to forget about it. It's going to hurt you at some point."He said.
For decades, Buffett has championed an investment philosophy based on patience and solid fundamentals.”If you are not willing to own a stock for 10 years, don't even think about owning it for 10 minutes.”, he wrote in 1996.
Focus on the essentials
For Buffett, the secret is not trying to predict the market or chase financial fads.
Instead, he recommends maintaining a diversified portfolio and having discipline.
In his 2018 letter to shareholders, he summed up this thinking: investors need to “the ability to ignore the fears or enthusiasms of the crowd and focus on a few simple fundamentals".
By stepping down as executive leader of Berkshire Hathaway, Buffett ends one of the most successful cycles in the history of the financial market.
But it continues to influence generations by reminding us that success begins with the most basic choices: who you hang out with and how you decide to act.
