Thursday, February 16, 2006

Warren Buffett's advice to students

Monica Reed, 23, a business major asked what students can do to find their true passion as Warren Buffett did with investing. He told her to try to varied experiences and keep an open mind.

"I plan to travel, expose myself, like he said, to the world of international business and see what turns me on," Reed told the Reno Gazette-Journal afterward.

Buffett said the two most important things students can do to improve themselves is to hone their communications skills and focus on things that they admire in other people.

He described an exercise he does in classrooms in which he asks students to look around and pick the person they most would like to have a 10 percent share in their future earnings.

"Would you pick the person with the highest grades? No. The highest IQ? No," he said.

"It's usually the person who works well with other people, who is honest, who gives credit to others. ... Be the person you want to buy part of."

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