Stella BIDA, in conversation with Mary BUFFETT, Financial Expert, International Speaker, Best Selling Author, Entrepreneur
Summarised conversation transcript
This is a summary version of the conversation. More details, stories, and amazing insights are mentioned in the video!
Mary BUFFETT is a Financial Expert known for sharing Warren BUFFETT's secrets to investing. She is an International Speaker, Best Selling Author and Entrepreneur.
STELLA BIDA: Hi everyone and welcome to today's conversation. I have a very special guest today, Mary Buffett. Mary is a top financial expert. She's known for sharing Warren Buffett's secret strategies to investment. She's a best-selling author, international speaker, entrepreneur. But she is much more than that and this is why I'm very delighted to welcome her today to this open conversation of excellence. Mary welcome!
MARY BUFFETT: Thank you so much. And what a niceintroduction! Especially from you Stella, who has doneso much yourself.
STELLA BIDA: Thank you Mary. What have I missed that you want people to know about you, as an introduction?
MARY BUFFETT: I'm a mother of three children and a grandmother of one. They are very important to me. Family is the key to success. I believe it's the most important thing in our lives. I'm also a high school dropout, which most people don't know. I very rarely share that because a lot of people have very negative thoughts about that, especially in the upper echelon of the investment industry. But I like to share that because I want people to know that you don't necessarily have to have a college degree. I wish I could have gone to college, I just wasn't able to, I was working since the time I was 14 years old.
I've really made my life what it is because I knew what I wanted it to be, so I had my own vision. I'm very happy. I never thought I would be as successful as I am internationally. That was the one thing that was a surprise to me and I'm grateful for that.
Grand-mother Susie Buffett's key values, shared through generations
STELLA BIDA: What are the values that you cherish and that you want to pass on in your family, children and grand-children?
MARY BUFFETT: Grandma Buffett, Susie Buffett - Warren’s wife - had five sayings that were always great:
1) Show up
2) Pay attention
3) Do your best
4) Tell the truth
5) Don't be attached to the outcome
And those were really important lessons!
Besides that, I really taught my children to be empathetic, to really understand other people – being a real Human Being and feeling what another person could be going through. Not to be afraid to Love, not to be afraid to fail, because without failure, you can't learn. Failure is a great way of learning!
STELLA BIDA: As a leader, how much is it important to share about our failures, about being vulnerable and showing our insecurities?
MARY BUFFETT: I think it's very important to understand that most successful people have all had failures. Failures should not dictate you or influence you so much that you feel bad about yourself. They should influence you as to how to learn from what you did.
An important part of knowing oneself is knowing that we can make a difference
STELLA BIDA: How does one discover who they are? What is the first step actually to even being in that awareness of ourselves?
MARY BUFFETT: I think part of it is being alone. Really being with yourself, and understanding what you contribute to the overall world. It's also about understanding that life matters, that one person can matter. As an example, Warren Buffett matters to so many people and investors. An important part of being in awareness of myself was feeling that I could make a difference.
How to dealing with unexpected change
STELLA BIDA: When we enter the phase of discovering ourselves, we may go through unexpected change. How do you deal with unexpected change?
MARY BUFFETT: I think that it’s a very difficult thing to do for a lot of people, including myself. We don't like unexpected change. The way I deal with unexpected change is that I quiet myself. I don't let it overcome me, and I think that's an important thing. We can't let it overcome us mentally, emotionally. Conversations and sharing with other people are helpful, and that’s how unexpected change can turn out to be great!
Who you surround yourself with is key
STELLA BIDA: When you were talking about dealing with unexpected change, you talked about sharing with friends and with people. How do we find the right people to surround ourselves with?
MARY BUFFETT: I always like to find and surround myself with people that I look up, that I admire. I try to surround myself with very few, but very important people in my life.
Dear 10 years old Mary, you can really have whatever you want...
STELLA BIDA: If you had your younger self, Mary at 10 years old, what would you whisper to her?
MARY BUFFETT: I would tell her: “You know, you really can do whatever you want you - and you can do many things, you don't just have to do just one single thing.”
Warren Buffett's key habit? Patience.
STELLA BIDA: You said that being around Warren Buffett has put you into a learning momentum. What are some of the key habits that are still helping you today?
MARY BUFFETT: I think that the biggest habit I have learned from him was patience. Let's look at the stock market right now. For the last few days, it has been going down 500, 600, 800 points. I'm looking at companies that I would like to invest in. And I realize that they are cheap - yesterday they were cheap, today they're cheaper. What I know is that I'm going to continue to wait because it's going to get even cheaper.
Being able to wait is important. And if you miss an opportunity, not feeling bad about it. Rather learning from it. You are going to get a good opportunity by waiting patiently, and not just jumping into the market and listening to people.
Learning and teaching are gifts to cherish
STELLA BIDA: The first time we discussed together, I was amazed by the energy and the dedication that you put into enriching other people's lives through financial education. What is the underlying reason why you're so dedicated to that?
MARY BUFFETT: It wasn't until I was speaking in front of audiences that I really got it. I would give my talk, and the “Questions & Answers” period was always my favorite! People had so many great questions! I loved and I really enjoyed teaching, I really enjoyed watching people learn.
Learning is really special, it's a real gift that people don't realize.
The power of educating ourselves
STELLA BIDA: Wow! What a difference you're making Mary! What is the question that I haven't asked you, for which the answer would help people at moving forward with themselves and in their lives?
MARY BUFFETT: I guess it would be not to ever lose faith in yourself. Even at my poorest, I always had faith that things would be better, because I would make them better. The important thing is learning, really spending the time to educate yourself. Understanding that even saving a dollar a week matters.
STELLA BIDA: Mary we’ve spent a wonderful time with you. Thank you!