Rule No.1 – Never lose money. Rule No.2 -Never forget Rule No. 1
Rule No.1 – Never lose money. Rule No.2 -Never forget Rule No. 1 – Warren Buffett.
I don’t really watch much TV, primarily because I find it so depressing. The News is mostly about shock value, and reality TV to me means other people’s drama designed to make you feel better about your life. But I do make a few exceptions, and sports are my biggest exception. After sports, my favorites are programs like “Shark Tank” and Marcus Lemonis from “The Profit”. My daughter, Tayla, and I watch these programs together and I can see how she is learning about business, negotiation, what’s a good deal, and how people come up with great business ideas, and the challenges of implementing these new ideas. It’s a bonding time for both of us, and I cherish it!
Recently, I was watching the new HBO documentary “Becoming Warren Buffett”. I have always admired the way Warren has conducted himself in business and his personal life, as one of the richest men on the planet. He has a net worth of something like $74 billion. Plus, he chooses to give most of his fortune away to charitable causes; just awesome and admirable in today’s world.
However, it is his breakfast story that is most intriguing to me. Every morning his wife, Astrid, sets out three amounts of money for Warren to choose from to buy his breakfast from McDonald’s. It’s a pile of $2.61, $2.95 or $3.17. “When I’m not feeling quite so prosperous, I might go with the $2.61 breakfast.” He explains, “That’s two sausage patties and then I pour myself a Coke. My $3.17 breakfast is a bacon, egg, and cheese biscuit. But the market is down this morning, so I think I’ll pass up the $3.17 and go with the $2.65 breakfast.” (Just for interest, his $2.95 breakfast option is a sausage McMuffin with egg and cheese.)
After buying his McDonald’s breakfast, Mr. Buffett eats his meal at his desk with a can of Coke, one of five he drinks per day. Okay, I’m sure many of you reading this have a few emotions and thoughts running through your head about his dietary plan. And for the record, my thoughts exactly the same!
Two things spring to mind from this vision. Firstly, as you all know from my previous letters, I place great importance on health, body, and mind. I believe your thoughts impact your life as much as the exercise you do and the foods you consume. Personally, I have not been into a McDonalds in at least 10 years. As for drinking Coke, or any soda for that matter, that’s a No-No in my books. Let’s not forget that’s it’s at least a PH 2, very close to battery acid, but I digress. At 86 years old, Warren has made his choices in life and no one is going to change the man or his food choices.
The second thing that is startling is his absolute dedication to success, and his structure around iron clad habits. The results are plain to see. I’m totally impressed with his discipline and understanding of the value of a Dollar; that a billionaire many times over, at 86 years old will cut a dollar off his $3.17 breakfast choice if he feels the market is down. It’s these kinds of idiosyncrasies that blow the mind, yet it is these types of iron clad habits that has built the man.
But come on MacDonald’s! You had better change the quality of your food and your image fast! Let’s not forget that your stock is down, and you are closing 1,000 stores! The truth of it is that today, many people are finally making healthier choices. Thank goodness!
Your health should be your 2nd job. I see people and friends every day that are not able to do the things they want to do because of their health. It’s sad that many of us work our whole lives to make money, only to then spend all our money to have better health. “Let food be thy medicine and medicine be they food.”- Hippocrates.
As we fast approach the end of the first quarter, our kids will soon be on spring break. I wish everyone a great and safe month. I’m totally digging that the sun is finally sticking around, and now that day light savings has readjusted, we have time after work to enjoy California at its best.
Happy Times to you all!
Ralph