Earlier this year, Warren Buffet announced he was stepping down as CEO of Berkshire Hathaway at his annual conference in Omaha.
”The Oracle Of Omaha” is known for his investment strategies, frugality, and has been on record saying he’s not the biggest fan of exercise.
So, why talk about him in a health and fitness blog?
Well, because we want to take a look at the mindset that fueled those and apply it to our habits in daily life.
”The Long Game”
Much of Buffet’s success in the financial world came from a 1989 shift in investment strategy that he spoke about in Berkshire Hathaway annual newsletter.
In this investment he warned against an investment approach he once believed in called the “Cigar Butts” strategy.
In this strategy investors would look for failing companies that had one last chance in them to become profitable. They would invest in these companies and make a big short-term reward.
In his newsletter, Buffet warned that while the short-term gains may seem enticing. These investments had low yield in the long term.
It is from here on out that Buffet began to invest in good companies that the rest of the world deeply undervalued.
He would invest enough money and used his expertise to push these companies to the next level. In the short-term he wouldn’t see amazing returns but today those companies became See’s Candies, BNSF Railways, Fruit of The Loom, NetJets, and even Dairy Queen.
These companies now make profits that all feed into his holding company Berkshire Hathaway. Which puts him as one of the richest people on Earth.
How does this apply to my health?
Spend one week with me doing consultations or look up “r/askfitness” on Reddit and you’ll see that most people who are starting to workout want a quick fix.
The “Cigar Butts” approach in fitness is usually “If I make this drastic change to my diet and workout for 2 hours a day in the gym, I will lose so much weight quickly.”
The thing is, that one big puff you give to the Cigar will give you short term gains. In the long term, you’ll be burnt out and find yourself back where you started before long. Wasting the investment you put in. (The investment being your time and energy).
The things that are often undervalued get ignored as they don’t see immediate changes. Things like: small changes to diet, starting out by just moving each day, and learning how to move well before adding intensity, are all tossed aside.
But, if choose to invest in these strategies for habit change, we look at how we feel 6 months down the road and we feel better and the mental load is less. Do it for 3+ years and suddenly we are the Warren Buffet of Fitness to our friends and family.
Success is simple. In anything. It’s the staying consistent and doing what you know is right is the hard part.
So, if you find yourself needing a quick fix. Remember this email and remember that the simple things you’re doing are exactly the things that will get you to where you want to be.
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