Quote from Warren Buffett
Here’s a quote for Warren Buffett - who has been consistently among the few richest people in the world for the past 20 years or so.
“To invest successfully over a lifetime does not require a stratospheric IQ, unusual insights, or inside information. What’s needed is sound intellectual framework for making decisions and to keep emotions from eroding that framework.”
Firstly let’s define investing as something which we we see as worth putting a consistent effort into to achieve a long term result.
So it is fair to say we invest in many things such as family, health, finances and business ideas. The key interpretation from the above quote is that it’s not about being an intellectual guru, rather our success will be a function of having a robust framework to work towards. That this information is available to everyone, and if we have to the discipline to stick to it our investments will yield results far beyond our expectation.