Warren Buffet

Superior business leader and American Investor Warren Buffet is often called "Oracle of
Omaha" or the "Sage of Omaha" and philanthropist. Buffet is the CEO, and the biggest
shareholder of the Berkshire Hathaway Company. Buffet has an estimated current net worth of
approximately $52 billion in US funds. Forbes magazine ranks Buffett the third richest person in
the world in September 2007 behind Carlos Slim and Bill Gates.

Personality Traits

Warren Buffet is known for his economical and plain lifestyle. He never flies in a private jet
even though he owns the largest private jet company in the world. As a side note, Warren Buffett
is Bill Gate’s mentor.

What makes Warren Buffet a good business leader? Warren Buffett is a true leader where his
leadership makes a difference in the world. Leadership is very much related to change and he has
the capabilities of leadership change to fit the changing world. Warren Buffett has repeatedly
demonstrated the ability to map read in the irregular waters of change. Also, Warren Buffett is a
skilled communicator in all aspects of life.

Besides this Warren has passion, common sense, discipline, determination and patience.

Buffett has right passion to investing. No doubt. He had identified his passion at the time of
childhood and had done his maximum to develop this passion to the right level.

Investor and investment success highly requires approaches based on common sense. When to
invest? In which company? At what time? These are some common sense questions that need to
be addressed to make the right decision. Buffett used this common sense approach when selected
his investment candidates and that lead him to the right success!

Discipline is the other name of Warren Buffett. He is a disciplined investor. Buffett has high
level of dedication to his job. He never crossed or compromised with his quality at any time in
his career or life.

"Let the rain come with water or rock, I am bothered least", this is Buffett’s approach. Buffett
never missed the coolness and calm. His success is the result of his patience.
 7 traits that made Warren Buffet billionaire
Frugality

Frugality is synonymous with restraint, but it’s complex. It’s about having a capacity to
restrain your impulses from indulging in what might appear alluring or easy before you.
In today’s world of increasing consumption and the desire to acquire more and more,
frugality seems like a rare virtue indeed. Ultimately, Warren Buffett is a collector, not a
stamp collector or a coin collector, but a collector of money. He seems to love it in much
the same way other collectors treasure their objects and therefore having a frugal or
restrained attitude toward spending it, allows him to accumulate more of it. Is it true that
counting one’s pennies enable the pounds to look after themselves? In Buffett’s case,
most certainly, yes.

Conscience

[drizzle]

The structure of our conscience is really about the way we judge ourselves in regard to
our success and failures. Churchill once said that ‘success is about going from failure to
failure without loss of enthusiasm’. In many ways this is the spirit of conscience that is
Buffett’s way. Having this sort of sympathetic conscience enables us to take seriously the
making of important decisions whilst also enabling a capacity to recover from mistakes
without too vicious an attack for failing. It can often be a fine line but Warren Buffett’s
friendly relationship with his conscience allows him to do the right thing by himself and
live with the mistakes he makes.

Deferring Gratification

This is perhaps the essence of what investing ultimately is. The ability to forego
consumption now in order to be able to consume more in the future. Think of the three
little pigs. The third one who puts off having fun in the moment in order to build his
house of bricks and ensure his safety (and future fun) is the one who epitomises the
maturity required for deferring gratification. Deferring gratification requires a certain
strength of character in order to contain anxiety and impulsiveness, both of which would
be kryptonite to any investor and especially Buffett.
Cutting your Coat

There is an old idiom that suggests it is wise to cut one’s coat according to one’s cloth.
Beyond its obvious literal implications there is a deeper message pertaining to one’s inner
resources. In this sense, cutting one’s coat is about embracing the parameters of our
resources rather than striving to exceed their limits. This is not a defeatist instruction to
diminish our own potential but rather an invitation to grapple with our own reality; or a
call to rely on our resources to create the kind of life we desire; one that is defined by the
limits of who we are. Warren Buffett often refers to a notion of a circle of competence
and how important it is to operate within it and to know its boundaries. ‘We stick with
what we understand’, he says. He is not a man who relies on a great imagination and
innovative foresight to provide investment opportunities, but that’s who he is; that’s his
cloth. And that is what it’s all about. Not a particular style – whether innovative or
conservative – but applying your own resources in the most effective way.

Greed

What is greed? And how has it come to be thought of so pejoratively? Is it just about
wanting more? If so, don’t we all want more? And aren’t surpluses, in every sense, a
helpful thing? The danger with greed is that it can rob us of enjoying whatever it is we
have, and we never feel as though we have enough. Warren Buffett might be greedy in
the simple sense of wanting more, but unlike the miserably greedy, he revels in whatever
he has. The ‘cheerfully greedy’ can appreciate and value what they get, they just want
more of a good thing. As Mae West said, ’too much of a good thing can be wonderful’.
So, is greed in the end just a value judgement about what makes a good life? It’s hard to
see how Buffett’s greedy desire for acquiring more has been unhelpful to him. Perhaps
we need to more deeply consider what greed is really about?

Independent Thinking

Buffett says that a public opinion poll is no substitute for thought. There is no question
that a large part of Warren Buffett’s success can be ascribed to his ability to think
independently and to be his own man. He is one of those rare individuals who is able to
stem the tide of others’ opinion so that he can allow his own thoughts to emerge. And
while a struggle for independent thought is a significant dimension of ordinary life in a
shared world where there is a constant pull to adapt, it rockets into a different league
entirely when one attempts to do this in an investment environment. Investing is an
orientation toward a fantasized future and one often with enormous financial
consequences, so no wonder one can feel vulnerable in this environment. But somehow
Buffett remains his own man, unswayed by ‘important people, vocal people, or great
numbers of people.’ It’s hard to overstate the significance of this capacity of his as one of
the key ingredients of his success.

Modesty

Modesty is about an awareness of our smallness in the scheme of things, and Warren
Buffett is inherently modest. He constantly acknowledges the limited and connected role
that he plays in something so much bigger than himself. This world view is far away
from the omnipotence and self-importance that characterize a good part of the investment
environment today. ‘We will not normally pay a lot in any purchase for what we are
supposed to bring to the party – for we find that we don’t ordinarily bring a lot’, he says.
He knows he is merely a good investor and that it’s his reliance on what he hasn’t got –
the skills of good business operators – that makes him rich. His modesty and humility
make it possible for him not merely to know this, but also to comfortably embrace it.

20 Best Quotes from Warren Buffett on Investing and Life

1. "The most important quality for an investor is temperament, not intellect.
You need a temperament that neither derives great pleasure from being
with the crowd or against the crowd."
2. "Successful Investing takes time, discipline, and patience. No matter how
great the talent or effort, some things just take time: You can't produce a
baby in one month by getting nine women pregnant."
3. "I don't look to jump over seven-foot bars; I look around for one-foot bars
that I can step over."
4. "In the short term, the market is a popularity contest. In the long term, the
market is a weighing machine."
5. "Opportunities come infrequently. When it rains gold, put out the bucket,
not the thimble."
6. "Diversification is a protection against ignorance. It makes very little sense
for those who know what they're doing."
7. "If you aren't willing to own a stock for 10 years, don't even think about
owning it for 10 minutes. Put together a portfolio of companies whose
aggregate earnings march upward over the years, and so also will the
portfolio's market value."
8. "The key to investing is not assessing how much an industry is going to
affect society, or how much it will grow, but rather determining the
competitive advantage of any given company and, above all, the durability
of that advantage."
9. "I am a better investor because I am a businessman, and a better
businessman because I am an investor."
10. "It's far better to buy a wonderful company at a fair price than a fair
company at a wonderful price."
11. "I will tell you how to become rich. Close the doors. Be fearful when
others are greedy. Be greedy when others are fearful."
12. "You only have to do a very few things right in your life so long as
you don't do too many things wrong."
13. "Should you find yourself in a chronically leaking boat, energy
devoted to changing vessels is likely to be more productive than energy
devoted to patching leaks."
14. "It is not necessary to do extraordinary things to get extraordinary
results."
15. "What we learn from history is that people don't learn from history."
16. "Chains of habit are too light to be felt until they are too heavy to be
broken."
17. "There seems to be some perverse human characteristic that likes to
make easy things difficult."
18. "Nothing sedates rationality like large doses of effortless money."
19. "The difference between successful people and really successful
people is that really successful people say no to almost everything."
 20. "Long ago, Ben Graham taught me that 'Price is what you pay; value
is what you get.' Whether we're talking about socks or stocks, I like buying
quality merchandise when it is marked down."

BIG FIVE MODEL OF PERSONALITY:

In psychology, the Big Five personality traits1 are five broad domains or dimensions of
personality that are used to describe human personality. The theory based on the Big Five factors
is called the Five Factor Model (FFM). The Big Five factors are:

Openness to experience – (inventive/curious vs. consistent/cautious). Openness reflects the

degree of intellectual curiosity, creativity and a preference for novelty and variety. Some
disagreement remains about how to interpret the openness factor, which is sometimes called
"intellect" rather than openness to experience.

Conscientiousness – (efficient/organized vs. easy-going/careless). A tendency to show self-

discipline, act dutifully, and aim for achievement; planned rather than spontaneous behavior;
organized, and dependable.

Extraversion – (outgoing/energetic vs. solitary/reserved). Energy, positive emotions, surgency,

assertiveness, sociability and the tendency to seek stimulation in the company of others, and
talkativeness.

Agreeableness – (friendly/compassionate vs. cold/unkind). A tendency to be compassionate and

cooperative rather than suspicious and antagonistic towards others.

Neuroticism – (sensitive/nervous vs. secure/confident). The tendency to experience unpleasant

emotions easily, such as anger, anxiety, depression, or vulnerability. Neuroticism also refers to
the degree of emotional stability and impulse control, and is sometimes referred by its low pole –
"emotional stability".

CONCLUSION:
After studying the personality from varied backgrounds of politics, administration and business,
we can clearly see in the analysis that except Adolf Hitler who was a highly Neurotic person,
most of the rest personalities has Conscientiousness and Extroversion as a common trait also the
most prominent traits that we can identify in the MBTI analysis is Intuition and Thinking,
successful leaders rely on intuition, but they at the same time think before making a decision. So,
we can say that these are the most desirable traits for a leader to be successful, but again this is
debatable. The research does not clearly points out any specific trait or combination of traits that
an individual should possess to be a successful leader but, it says that the individuals in every
society possess different degrees of intelligence, energy, and moral face. However, it is
important that each of us know our strengths and weaknesses.