Why is Buffett considered the greatest investor?

[DesertCat]

More on what made Buffett successful, by his partner Charlie Munger.

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"WB [Buffett] is one of the smartest people I know. WB has been extremely interested in investing since he was 10. There is no substitute for having a very intense interest in something you're trying to succeed at;
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Extremely high-IQ people don't need to keep learning throughout life (they can coast), but people with less intelligence need to keep learning. WB had both -- very high intelligence and continuous learning. WB's skills have increased markedly since he turned 65! If he had stopped learning earlier in life, his record would be much less impressive."

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A lot of very bright people make continually bad decisions because they have bad character traits and, worse, they encourage them. Don't be an extreme ideologue -- whether right or left.

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On mentors: "Most of WB's achievement came by sitting on his ass and reading. You'd get fired in corporate America if you did that! The present generation of multi-taskers won't produce people who think as well as WB. Wisdom comes by sitting on your ass."

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