Warren Buffett inspires a new perspective of success

I recently had lunch with the most successful investor in the world, Warren Buffett, and it changed my life.

We often watch and listen to famous and successful businessmen speak, but rarely do we have the chance to meet them in person or have the privilege to dine with them. This year, our business school at the American University of Sharjah (AUS) organised a once-in-a-lifetime opportunity to meet the famous investor and philanthropist, and pick his brain on how to succeed in business and finance.

We flew for 20 hours to reach Omaha in the United States, where we were among many other students from eight business schools around the world. Mr Buffett led a seminar, opening the floor to two questions from each school, and then engaged us in an informative, yet friendly, question-and-answer session. It was easy to learn from him as he had a way with engaging us. I liked how the experience wasn’t strictly about learning, but that we were having fun in the process.

One of my favourite questions posed to him was: “If you purchased a stock at US$5 and then learnt that the price for it fell to $4.3, would you get upset?”

Mr Buffett responded with a brilliant anecdote: “I always buy a burger from McDonald’s at $3.40. If I found out that the price of this burger fell to $2 a burger, would I be upset? No, I would be happier. I would buy more burgers.”

His perspective shifted mine. I quickly thought about how I could apply it to my studies and my future investments. Overall the seminar was an excellent learning experience. I learnt a lot from questions by other schools and from listening to Mr Buffett’s outlook and his personal experiences. An interesting personal takeaway – he told us that it is important to marry someone more successful than you because you need a partner who will motivate you to succeed.

I was amazed at how humble he was, in appearance and disposition. On our way to lunch, we drove past his house – I couldn’t believe it was his house. When you see someone so rich and successful, who went from owning practically nothing to billions, still living in a small, ordinary house in Omaha, you are truly inspired.

He didn’t spend his money buying a lavish home; he is smart with his money. He donates to plenty of charities and spends on things that make him happy. He told us money isn’t everything, money can’t buy happiness.

The most important life lesson Mr Buffett shared with us was about following our passion. He advised us not to pursue finance for the money but for the knowledge and for our education.

When I first decided to pursue a degree in finance, I thought the career would bring me opportunities to make money. Now I can see that it’s really not about the money, it’s about doing something you love, something you’re passionate about.

The focus should be on building your education, which, unlike money, can never be taken away from you. My father has given me similar advice and after receiving this tip from two idols of mine, I now believe it.

I returned from the trip with new insights on moving forward and succeeding, in school and in my life. Mr Buffett has given me a new and humbling outlook on how to be successful. His advice resonates with me in every step as I begin each new day.

Paul Hashem is a fourth year finance student at the American University of Sharjah. AUS students were the first selected from the Mena region to make the trip.

business@thenational.ae

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