The Secret to Warren Buffett's Success

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Transcript

00:00You recently wrote about how a theme in many of Warren Buffett's letters has been this idea of

00:04luck, and that he actually attributes a lot of his success in his career to, frankly, just being

00:10lucky. Why did that stand out to you? This is a theme that's kind of run throughout his letters.

00:15In his most recent one, he mentioned some form of the word luck 12 times, and that just really

00:19jumped out at me. I think that, you know, he's very clear that a lot of his success comes from

00:27being born a white male American in the year 1930. And so I think he believes that his wealth

00:35sort of, he's a product of the system. It's not all, he doesn't buy into his own hype. And I think

00:41that is really different from what we see from a new cohort of Silicon Valley CEOs who seem to feel

00:49that they've contributed so much more to society than they'll get back. So I kind of feel like

00:57this is a little bit of the secret of his success. It's kind of helped him avoid hubris and the

01:02mistakes that come with it. And I think, you know, you cannot recreate Warren Buffett's luck,

01:08but you can certainly try to recreate this mentality.