Earlier this week, we discussed Warren Buffett’s annual letter… and today we’re back with Part II of the two most important takeaways from his 2021 edition.
Dating back to 1965, Buffett’s annual letter has arrived to much fanfare. It’s posted for full public consumption, and there’s even a book compiling all of the letters from 1965 to 2014.
In my first video, we discussed Buffett’s “always bet on America” philosophy, what he also calls “the great American tailwind.”
In a nutshell, Buffett believes the American economy will always continue to grow. Sure, there will be pullbacks, corrections, bear markets and full-blown recessions. But if you look at a graph of the U.S. economy over time, it always recovers and eventually heads higher.
So after every downturn thus far, higher prices soon followed — the great American tailwind.
Basically, if you always bet on America, you’ll be in good shape.
Now for my second takeaway from Buffett’s annual letter for 2021 — and I can’t stress this enough — ALWAYS separate your actions from the results. And make sure whatever you’re doing… the busy work… is yielding the results you want.
Buffett says you’re not rewarded for working harder, and few in the business world are. As the old saying goes, work harder, not smarter. This may sound counterintuitive but here’s an example…
Let’s take two people. The first person works… say 100 hours a week. He doesn’t sleep and just works around the clock. At the end of the year he makes a dollar.
The next person works smart. She takes her time and studies the information needed to make money. She works three to four hours a week, if that. And at the end of the year, she makes a dollar.
In the business world, they both made $1. Now, which person do you want to be?
Check out my short video and let’s discuss this second big takeaway from Buffett’s annual letter for 2021 in-depth.
And as always, please like and subscribe to our YouTube channel. You can also follow me on Twitter, and read more of my thoughts on the market at WealthPress and on Forbes, where I’m also a contributor.
P.S. *Secret List 📝* These Stocks Are Legally Forced To… Rise?
This emmy-nominated journalist has a secret list from a former Wall Street analyst.
It contains a controversial truth about some of the richest CEOs and executives….
And what they’re LEGALLY allowed to do to their own stock price.
You probably haven’t heard about this, because all this activity is done “behind closed doors.”
But if you look away from the stock market — and toward this “secret sector” instead — you can spot this quasi-legal activity up to 48-hours before these elites profit from their own moves.
Luckily for you, the Wall Street analyst who put this list together is pulling back the corporate veil on this shocking truth at 1 p.m. today!