I watched a documentary on Warren Buffet today on CNBC, and although I learned a lot, there were two things that impressed the hell out of me:
1- He said "In business, you don't need to know what's coming, but you do have to know what's going"- So he was saying that you have to know when your industry, your habits, your attitudes, whatever- no longer serve you successfully. He was saying that furniture manufacturing was LEAVING the US, so he had the stuff from one of his companies go to China. However, now the Vietnamese have even LOWER labor cost, so now it's time to move there.
2- Again, referring to the furniture business he owns part of, here is the the 3rd wealthiest man in the world, and yet the furniture in his house comes from the LOW-PRICE furniture company he owns. ANYONE would understand if he had the finest, most expensive furniture n his home, but in order to show his support for his business, he has the furniture from it in his home. WOW.
Thanks Warren!
