Andrew Murray
Entreprenurialism, Investing & Network Marketing
Warren Buffett and the “Greatest Skill”
Author: Andrew Murray4 Mar
Last night I was watching CNBC – the money channel, and I happened to catch an interview with the oracle of Omaha, Warren Buffett. Now as you may know, I'm always gathering new information. And I always take notes. That's one of the reasons Marie and I have been so successful in life – both in business and outside of business.
But I digress.
I want to give you my biggest takeaway from the interview. There was a question from a man in Zimbabwe (formerly Rhodesia) about what to do about runaway inflation.
And Warren said that in times of high inflation your best investment is in your own personal talent or skill. In other words, he said forget about inflation and work on developing your own abilities, whether that be communication, business, etc. He said that when you are trying to store wealth, then you'll have a problem with the currency.
Now it's been quite clear to me for some time that inflation is a bit higher than the "posted" rates. And as the USD falls, expect the inflation to continue to expand. Now that main thing to realize about inflation is that if you put money under your mattress, you lose money every year. And if your investments merely keep up with inflation, you are still losing money every year.
But according to Warren Buffett, the biggest way to combat inflation is to build your own business. Invest in yourself. Invest in new knowledge. Invest in your own personal development.
And that is why as the US is entering a recession (according to Buffett and myself), you should start looking at how you can increase your earning power from additional income streams. Let's face it. If you study successful people, they focus on continually developing their marketing and business skills. And they know if the business climate changes completely, they'll be able to adapt and earn even more. And in fact, these very people can see it as an opportunity.
And I want you to develop your skills to the point where you can believe that about yourself.
And that's why you need to stay tuned into this blog…
By the way, we will be releasing a preview edition of our brand new network marketing product soon
. Post your comments if you want to be considered for a review copy.
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12 Responses for "Warren Buffett and the “Greatest Skill”"
I have also come to the conclusion that a person should find out what they do best and pursue that without fear of failure; because even if you do fail you will learn what not to do.
I truly agree with all you said, but its a strange fact that all these and maybe much more is embedded in every human and he/she only realizes once exposed or explained. I feel knowledge and training that you share goes a long long way for all.
So true. There are always those who prosper in good times AND in rough times. As Jim Rohn said the best, “Simply making consistent investments in our self-education and knowledge banks pays major dividends throughout our lives.”
Oh, I’d love an opportunity to review your new product! : )
I really agree with everything you’ve said here. I believe that a person should work on themselves and continue to improve their knowledge in as many areas as possible. It is a wise investment of your time and will pay you back many times over in the future.
As I have recently started building a network marketing business, I am realizing that all the training and tools in the world won’t help without the constant pursuit of personal development to support them. My personal “recession” is retirement without adequate funds to enable me to be useful to society, and I need those multiple streams of income. I would love to review your new product, please!
I think the signals are coming out loud and clear that all is not well with the US economy and the US Dollar. Ultimately this will affect the Canadian economy and we are starting to see some signs of this already in Ontario where I live. Any additional stream of income would be welcome at this time so I would certainly like to have a look at your new network marketing product.
I think the signals are coming out loud and clear that all is not well with the US economy and the US Dollar. Ultimately this will affect the Canadian economy and we are starting to see some signs of this already in Ontario where I live. Any additional stream of income would be welcome at this time so I would certainly like to have a look at your new network marketing product.
Thanks for your comments. As for me, I am also very “aware” of the US dollar. Being Canadian and working in a primarily US marketplce gives me a unique perspective.
We’ll be letting everyone know about the course as it gets near completion shortly.
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Very nice, I’m gonna try some of these, i don’t know if they will work with me as i with to, but i’m gonna give this a try.
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