7 Secrets to Investing Like Warren Buffett Book Summary - 7 Secrets to Investing Like Warren Buffett Book explained in key points
Listen to the Intro

7 Secrets to Investing Like Warren Buffett summary

Mary Buffett with Sean Seah

Buffett’s techniques of Value Investing and his proven strategies for long-term success

4.7 (364 ratings)
24 mins

What is 7 Secrets to Investing Like Warren Buffett about?

7 Secrets to Investing Like Warren Buffett (2019) offers a handy breakdown of the most fundamental secrets of investing like a pro. Many of the tips it provides delve into the basic principles of value investing. This approach has long been Warren Buffett’s go-to methodology for determining which businesses to invest in.

Table of Contents

    7 Secrets to Investing Like Warren Buffett
    summarized in 7 key ideas

    Audio & text in the Blinkist app
    Key idea 1 of 7

    Good habits, such as saving money and avoiding debt, are key to creating wealth.

    Chances are, if you’re looking for tips on generating wealth, you’re probably not expecting a lesson on making good habits. But that’s exactly what the first secret to investing like Warren Buffett is all about.

    You need money to invest money. So before we even get into picking the right stocks, we need to talk about setting aside the funds you’re going to use. Even though saving doesn’t come naturally to all of us, it’s one of the most important secrets of success.

    This is why you need to make a habit of it; something you’ll practice steadily and consistently.

    But where do you start? Well, step one is to put away 10 percent of your earnings. Transfer this money into a separate savings account, or put it somewhere else that’s out of reach. You don’t want the temptation of dipping into this pot. Once you’ve got the savings account set up, start to build on this money. Add to it regularly, with each and every paycheck.

    If 10 percent sounds a little steep right now, here’s another idea: incremental savings. This week, put away one dollar. Next week, two dollars. Week three, three dollars, and so on. It may not feel like much to start with, but if you keep it up, in a year’s time you’ll be stashing away $52 a week.

    Starting out small and gradually increasing your commitment is a tried and true way of forming a positive habit. It’s all about keeping things manageable and consistent. Many people jump out of the gate with goals that are too ambitious, only to stumble and fall a short while later. That can be very discouraging – a surefire way to kill off a good habit.

    But what if you’re being steady and methodical? What if you’re seeing that savings pot grow and grow? How much should you aim to save up? A good rule of thumb is to create a solid emergency fund, enough to cover your costs for some time in case your source of income is cut off.

    And then, on top of that, it makes sense to arrange an insurance policy, such as an accident and disability plan. The authors recommend a plan that’ll cover ten years of regular income, just in case.

    Spending money is easy. Anyone can do it. Wealthy people save money, put it aside, and grow it.

    There’s a reason why people who win the lottery and become overnight millionaires squander their fortune. They haven’t developed the kind of habits that can keep them wealthy.

    Want to see all full key ideas from 7 Secrets to Investing Like Warren Buffett?

    Key ideas in 7 Secrets to Investing Like Warren Buffett

    More knowledge in less time
    Read or listen
    Read or listen
    Get the key ideas from nonfiction bestsellers in minutes, not hours.
    Find your next read
    Find your next read
    Get book lists curated by experts and personalized recommendations.
    Shortcasts New
    We’ve teamed up with podcast creators to bring you key insights from podcasts.

    About the Author

    Mary Buffett is the coauthor of the best-selling Buffettology series, books that have helped shed light on the winning business practices of Warren Buffett. She’s also a sought-after speaker and business consultant. Her books include The Tao of Warren Buffett and Warren Buffett’s Management Secrets.

    Sean Seah is an author and investor who’s specialized in the Asian markets. He’s also lectured at colleges and universities. His other books include Gone Fishing with Buffett.

    Who should read 7 Secrets to Investing Like Warren Buffett?

    • Anyone interested in making sound investment decisions
    • Investors looking for tips
    • Those looking to break into the investment game

    Categories with 7 Secrets to Investing Like Warren Buffett

    Books like 7 Secrets to Investing Like Warren Buffett

    People ❤️ Blinkist
    Sven O.

    It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.

    Thi Viet Quynh N.

    Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.

    Jonathan A.

    Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.

    Renee D.

    Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.

    People also liked

    Start growing with Blinkist now
    26 Million
    Downloads on all platforms
    4.7 Stars
    Average ratings on iOS and Google Play
    Of Blinkist members create a better reading habit*
    *Based on survey data from Blinkist customers
    Powerful ideas from top nonfiction

    Try Blinkist to get the key ideas from 5,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.

    Start your free trial