Global Workplace Strategies in Today’s Volatile Environment
October 15, 2008
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I just finished reading Paul B. Carroll’s review of “The Snowball ” by Alice Schroeder in the Wall Street Journal (10/15/08). The headline reads Why Panic Passes Him By ”. The “him” is Warren Buffet, the well-known investor.
The reviewer points out that while Mr Buffet’s methods can’t be duplicated (“genius is genius after all”), there are some useful core Buffet imperatives.
- Take a close look at an investment’s intrinsic value brutally calculating the risks involved as well as calculating a margin of safety
- Learn from failures
- Turn a situation upside down. Look at it backwards. What is in it for the other person?
- What happens if all your plans go wrong? Where don’t you want to go and how do you get there?
- Make a list of how to fail instead of ONLY looking for success