Ideas
June 26, 2015 7:00 AM EDT
A telling excerpt from an interview of Warren Buffett (below) on the value of reading . Seems like he’s taking the opposite approach to Nassim Taleb in some ways.
Interviewer: How do you keep up with all the media and information that goes on in our crazy world and in your world of Berkshire Hathaway? What’s your media routine?
Warren Buffett: I read and read and read. I probably read five to six hours a day. I don’t read as fast now as when I was younger. But I read five daily newspapers. I read a fair number of magazines. I read 10-Ks. I read annual reports. I read a lot of other things, too. I’ve always enjoyed reading. I love reading biographies, for example.
Interviewer: You process information very quickly.
Warren Buffett: I have filters in my mind. If somebody calls me about an investment in a business or an investment in securities, I usually know in two or three minutes whether I have an interest. I don’t waste any time with the ones which I don’t have an interest.
I always worry a little bit about even appearing rude because I can tell very, very, very quickly whether it’s going to be something that will lead to something, or whether it’s a half an hour or an hour or two hours of chatter.
See How Tech CEOs Spend Their Money Steve Jobs
The Apple CEO's super yacht Venus was designed by Philippe Starck's design company Ubik. Jobs spent approximately $131 million on it but passed away in 2011 before it was completed.Ed Oudenaarden—AFP/Getty Images Steve Ballmer
In 2014, former Microsoft CEO Steve Balmer spent $2 billion to become the owner of the NBA's Los Angeles Clippers.Jeff Gross—Getty Images Larry Ellison
Outgoing Oracle CEO Larry Ellison owns 98% of the 141-square-mile Hawaiian island of Lanai, which he bought for an undisclosed price. He is turning it into a "model for sustainable enterprise," he's said, though details remain sketchy.NASA/Reuters Larry Page and Sergey Brin
Google CEO Larry Page and co-founder Sergey Brin have been attending the Burning Man Arts Festival since the company's early days. There they fund a "theme camp" and how exactly the funds are used is left up to participants' imaginations.Jim Urquhart—Reuters Bill Gates
The former Microsoft CEO is currently the richest man in the world, according to Bloomberg . Since 2000, Gates and his wife have been running the Bill and Melinda Gates Foundation. In total it has issued grants adding up to over $30 billion.Pius Utomi Ekpei—AFP/Getty Images Elon Musk
PayPal Co-Founder Elon Musk (in driver's seat) began as a Series A investor in 2004 and is now the CEO and chief product architect of Tesla Motors. The company created the first mass-produced, highway-capable electric car and is valued at over $18 billion.Robyn Beck—AFP/Getty Images Richard Branson
Founder of Virgin Group, comprised of more than 400 companies, Branson has invested heavily in spaceship tourism with the SpaceShipTwo vehicle .David Paul Morris—Bloomberg/Getty Images Mark Zuckerberg
To ensure his privacy, Facebook CEO Mark Zuckerberg bought four of his neighboring houses in 2013 for an estimated $30 million-plus in Palo Alto, California.Noah Berger—Bloomberg/Getty Images VIDEO
This piece originally appeared on Farnam Street .
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