Warren Buffett Life Lesson: Learning from People Better Than One's Self Instead of Feeling Threatened

-

I'm afraid that Warren Edward Buffett's lessons are hardly taught in school (read here). Whether it's the use of cost averaging into an index fund (or equity fund) or how to win in stocks, I believe we need more of Buffett's lessons. Now, it's time for a bit more of Buffett's lessons. Just because I can't be Buffett doesn't mean I can't learn from him. Another lesson that I feel I should constantly learn from Buffett is, "Hang out with people better than you."

I once felt threatened when more intelligent people gave me friendly criticism. I felt I was insulted even when the person was trying to help me. How would Buffett respond to that? I should choose my friends carefully. I could remember when I started to make friends with intellectual types. Sure, I didn't enter the dean's list. However, I remembered hanging out with better people than I am helped me improve my bad study habits. I could remember my days in the Associate in Computer Science course and I befriended some of the dean's listers. Later, in my business administration days, it made sense for me to hang out with better people than the unruly crowd. Though, it was funny that these intelligent people I hung out with never thought I nearly didn't graduate fourth-year high school. 

How did hanging out with more intelligent people help? I remembered I almost failed in basic programming. Rather than hang out with that arrogant information technology student--I befriended a highly intelligent guy. The difference was there that I did make it even if I never got accepted into the course I originally intended. Later, my study habits improved when I was hanging out with more intelligent people. Whether it's the summa cum laude or the organization president--I did get better. I tend to have bad social skills. I had a tendency to get distracted. Hanging out with such people started to be part of better growth. I may have never graduated cum laude but I'm glad that I finished on time. 

However, some people choose to feel threatened. That pretty much differentiates the winner mindset from the loser mindset. The winner mindset could care less if somebody is better than him or her. The loser mindset tends to think that he or she has to be better than everyone. The winner mindset respects competition. The loser mindset hates competition. The winner mindset accepts losses. The loser mindset chooses to blame others. The winner mindset accepts healthy competition. The loser mindset seeks to compete with others only for gain. The winner mindset seeks not to impress others. The loser mindset tends to be about impressing others. If you're in the loser mindset then it's more than time to change that mindset to grow. 

I used to say, "I'll never be Buffett! I'll never be John Gokongwei Jr.! I'll never be Bill Gates!" These guys can give me advice on how not to be poor. Sure, I'll never become the Oracle of Cebu City and I don't intend to be. However,  could learn from the Oracle of Omaha to better improve myself. I may feel threatened but there's not a need to be. Instead, learning from the better people can be more rewarding than seeking to eliminate the competition. 

Comments

Post a Comment

Popular posts from this blog

Some Filipinos Still COULDN'T Tell the Difference Between Foreign Direct INVESTMENT and Foreign INVADERS

-
Image
Bombo Radyo Cebu  Today is National Heroes Day 2025. Why do I feel that Buwan ng Wika (National Language Month), alternatively called Buwan ng Kasaysayan (National History Month), has been used to justify the Filipino First Policy, which caused the Philippines to fail? Some time ago, and it wasn't Buwan ng Wika, I actually wrote an entry begging Filipinos to abandon the thought that foreign investors are foreign invaders .  Whether we want to admit it or not, even the meaning of the words investor and invader are too different. A simple dictionary definition would show that investor and invader are two different words . An investor is "a person or group of people that puts its money into a business or other organization in order to make a profit:", according to the Cambridge Dictionary . Meanwhile, the Cambridge Dictionary defines invader as "an army or country that uses force to enter and take control of another country:". Big difference! Get more dictionaries ...
Read more

The Filipino First Policy May Actually be Encouraging Dummy Investors Instead (Even with the Anti-Dummy Law)

-
Image
I wrote a post where I discussed whether or not Alice Guo (and I heard her real name is supposedly Guo Hua Ping) should be a reason to say "No to economic charter change." A certain idiot I've dubbed Porky Madugo even wrote this on his Facebook account: Back on topic, I would like to emphasize that the Filipino First Policy may actually be encouraging dummy investors instead of discouraging them. Some people may use Alice to say, "See, I told you so, you (insert demeaning name)! If Alice can enter so easily, what about we allow 100% FDI and China buy us all!" That's the logic of that certain Porky Madugo, whose name and picture I blocked, despite my immense dislike for his stupidity. If Alice has been faking it  by lying she's a Filipino citizen (and sadly, this incident has been used to justify hatred against Chinese Filipinos), then the real root cause is this. The Filipino First Policy makes it too difficult for foreigners to do business in the Phili...
Read more

Let's PERMANENTLY Abandon the Concept that Foreign Investors are Invaders

-
Image
Philippine Anti-Fascist League Above is a meme found on Facebook that I'd dare say reflect epic levels of ignorance. The picture above represents the Spanish conquest of the Philippines. The Philippines was under the Spanish Empire for nearly 300 years. The Philippines gained independence from Spain on June 12, 1898, and from the United States of America (USA) on July 12, 1948. Basic Philippine history has proven that the natives of the Philippines (before being called Filipinos) have been trading with various foreigners before colonization. The Chinese traded with Filipino natives before they were dubbed Filipinos. Did the Chinese Emperor or the Chinese Empire ever have control over the Philippines because of trading? There is no history in China where the Philippines was once a colony of China before Spain took it over. The Chinese merchants were only interested in trading, not conquering, the 7,107 islands that were later collectively named the Philippines after King Philip of...
Read more

Economics 101: Pre-Colonial Philippine Natives Already Did Business with Foreigners

-
Image
Art by Hugo Yunzon It's finally August or Buwan Ng Wika (Month of the Language), though it may be better to call it Buwan Ng Kultura (Month of the Culture). Buwan Ng Wika programs tend to focus more on the uniqueness of several types of Filipino people. What I recall back in my high school days (late 1990s) is how I was asked to play an "American" in a Buwan Ng Wika program. There were also other people asked to portray the Chinese traders, Arab traders, Indian traders, and the Japanese occupation. It would be good to do a review of the pre-colonial Philippines. The name Philippines was derived from the Spanish king, King Philip. Back then, the natives were called Indios which sounds very similar to Indonesia . Yes, most Filipinos are either Malay or Indo. A look at the Indonesians and Malaysians would have one mistake them for Filipinos. A note is that the Chinese population there usually speaks Hokkien.  From Purdue Filpino --here's some basic information about Fili...
Read more

The Foolishness of Blaming Wealthier Countries Why Your Country Suffers

-
Image
Washington Times It's really entertaining (while it can also be frustrating ) dealing with economic neanderthals from my own country. Such people operate on what I call "Pinoy Pride Economics", never mind its high socio-economic post (read here ).  I ended up remembering the now-defunct Philippine Anti-Fascist League old page (and the new page is barely getting any views), which I believe is run by a group of Gen-Z brats blaming the USA for Venezuela's plight. I went Googling and found out that six years ago, President Nicolas Maduro showed he might be the champion of blaming other countries for his own country's poverty.  This incident was a massive blackout that hit Venezuela in 2019 . The news from CNN gives this detail why Maduro might win any blame contest if there was one: As the March outages left the country in the dark, Caracas saw dueling protests by supporters of Maduro and of opposition leader Juan Guaidó, who has been recognized as Venezuela’s interi...
Read more

Helping Others is Good But Not to One's Own Expense

-
Image
I advocate for helping others. I believe in helping others but there were times I overdid it. One time, I gave up so much that I had to be stopped. I was told, "If you gave everything now, how can you help others later?" I would donate some sums here and there, without thinking much. I'm not going to write them all. Some of them left me good while others left a bad taste (and a bad record) for me to endure. Sure, I want to help people but I tend to overlook the consequences. Some of the bad habits I had in the name of helping others are like: Being too generous with buying with credit. Eventually, I lost a lot of money which was never recovered . Some seasoned entrepreneurs may admit their own falls including the credit trap pitfall. Being too willing to give a discount without thinking about how it'd affect profits. Sure, a cheap price can draw people near. However, there are times when the prices of goods and services need to be raised to keep a business running. I ...
Read more

Social Media Gossipers' Ad Hominems Against Actor Robin Padilla Regarding His Proposal to Remove 60-40

-
Image
Make no mistake that I didn't vote for Robin Padilla. I feel like I've had enough of voting for celebrities, athletes, and those who I felt are know-nothings in the legislative. However, Padilla recently had his proposal to remove the 60-40 restrictions regarding foreign direct investments (FDIs) . Former Philippine Vice President Maria Leonor "Leni" Gerona-Robredo was even in favor of that amendment. I guess that's why Philippine economist Andrew James Masigan endorsed Robredo. I may have not endorsed Robredo while Masigan remains to be one of my favorite local sources. The news from GMA News Online reveals these plans by Padilla himself: Senator Robin Padilla said he wanted to revise the Constitution to scrap the 60-40 rule on foreign ownership of businesses to accelerate job creation and competition among industries . In a Monday interview, Padilla said the move would attract more foreign investments to support the country’s economic recovery. “Para sa akin mas...
Read more

Chatime: My First Love for Taiwanese Tea and Its Role in International Marketing in the Philippines

-
Image
I remembered Chatime became my first favorite tea franchise. Sure, there was Moonleaf near the University of San Carlos-Main Campus (USC-Main) which I wonder if it's still open now. Though, Chatime quickly became my personal favorite for a reason. The one I'm most familiar with is the branch in I.T Park which quickly became my after-meal beverage at times.  Chatime is a worldwide franchise' in the Philippine business environment Chatime's history is described as follows by U-Franchise which I'll give an excerpt: Since 2005, Chatime franchise has been serving millions of customers with their favorite cup of tea, making it part of every occasion, celebration or simply cupping a busy day at work. Chatime was founded in Taiwan in 2005 and in 2011 opened its doors in the Philippines. With a commitment to a quality of ingredients and mix-ins and a flare for innovative flavor combinations, we set out to brew nothing but the very best bubble teas. Chatime has now opened mor...
Read more

How I Believe the Public Service Act of 2022 Will Benefit the Philippine Business and Economic Environment

-
Image
One of the greatest news for the Philippines is the Public Service Act of 2022. The following can be read from the Philippine News Agency regarding President Rodrigo R. Duterte's signing of the new law into action: President Rodrigo Roa Duterte on Monday signed into law a measure amending the Public Service Act (PSA), allowing up to 100 percent foreign ownership of public services in the country. Republic Act (RA) No. 11659 or "An Act Amending Commonwealth Act No. 146 otherwise known as the Public Service Act” as amended was signed by Duterte in a ceremony at the Rizal Hall, Malacañan Palace in the presence of lawmakers and other officials. Under the amended PSA, the telecommunications, railways, expressways, airports, and shipping industries will be considered public services, allowing up to 100 percent foreign ownership in these sectors. Duterte also led the ceremonial presentation of newly enacted laws namely RA 11647 which amends the Foreign Investments Act; RA 11650, whic...
Read more

Will Anti-FDI, Anti-Business Filipinos Be Willing to Eat Rotten Food in an Isolationist Philippines?

-
Image
The decades of Filipino First Policy really need a clean-up, right? It's really amazing how some people keep blaming the US for Venezuela's current situation. What's next? Will they blame China and South Korea for North Korea being poor? I wrote an article where I discussed Venezuela's pride and protectionism . One of the many sources I cited discussed how frequent blackouts caused Venezuelans to eat rotten meat last 2018 . Are they going to well, blame the USA again , for the frequent blackouts? If Venezuela's basic utilities are all monopolized by the government--how can they blame the US for the crisis that Venezuela caused itself? Did the US tell Venezuela to do its really bad economic policies? I would read the comments made by SJWs on Facebook. They would write all forms of anti-capitalist rants without understanding what capitalism is. They say that competition ruins quality and that things will be better under a welfare state. The video above shows a sample ...
Read more