Completing a Misgo + Warren Buffett

Happy Sunday!I am playing around with what day of the week I should send these. What do you think?

 I'm currently in the Swiss Alps, embarking on an exciting 1st Misogi attempt of the year - conquering my very first black diamond ski run. Despite never having donned a pair of skis before last week, here I am giving this challenge all that I've got and hoping for success. Cross your fingers for me.This week I spent a lot of time diving in on Warren Buffett. I truly believe as humans our biggest limitation is the people we look up to.^ Think about that for a second. It is a BIG one. looking up to Warren not because he is rich, but because his level of patience and consistency over multiple decades is unrivalled. ps: Thank you to the 250+ new subs this week. I believe it comes from people sharing this newsletter. Thats cool, keep doing that. Thank you for the feedback. I truly appreciate it. I wanted to share with you some lessons I learned from reading Warren Buffett's shareholder letters over the last few days. In 2021, Warren Buffett and Berkshire Hathaway did $276 billion in revenue. For the last 50+ years, he's been documenting his journey building BRK publicly through these letters.Key moments to consider. 

• Praise managers, blame CEOs. It's the CEOs job to praise managers when things go well, and take the blame when things go wrong. Buffett even does this publicly in shareholder letters, stating big wins from specific managers and holding himself responsible for major Ls.

• Focus on what doesn't change. Buffett invests in companies based on consumer behavior that will never change. This helps create sustainable/reliable returns, whereas VC returns look much lumpier betting on innovation and change.

• More employees isn't always good. The more employees a business has, the slower, less efficient, and more bloated it becomes. To keep a business operating efficiently, it needs to prioritize systems, processes, and engineering that don't rely on people.

• You learn more from teaching than from learning. I've noticed this principle myself. Anytime I try to teach someone how to do something, I end up with new thoughts and ideas about how it could be done better OR how I can simplify the lesson for others and myself.

• Invest in yourself. Here's a short story from Buffett: "Let's say that I offer to buy you the car of your dreams. But there's just one catch, It's the only car you're ever going to get in your entire life." "Knowing that, how well are you going to treat that car?" Pretty well I'd hope. Unfortunately, we're not talking about cars. We're talking about the body/brain we are born with and can't replace. You have only one mind and one body for the rest of your life, If you don't take care yourself today, you'll wake up in 20 years driving a rust bucket."

This last point resonated a lot with you. We are 3 weeks into the new year. Are you taking care of your 1 and only car?- Aaron