Love in Action Todd Finkle: Personal Insights on Warren Buffett
Sep 21, 2023
49:09
Todd Finkle, Gonzaga University Pigott Professor of Entrepreneurship, is the author of Warren Buffett: Investor and Entrepreneur. He was the entrepreneur of six ventures and obtained a PhD & MBA in Entrepreneurship & Strategic Management, and with over 250 books, articles, presentations, and scholarships.
Quotes:
- “He [Warren Buffet] was doing so many entrepreneurial things through his youth that he made $76,000 by the time he graduated.” [15:08] By the age of 10, Warren Buffett already knew he wanted to be an entrepreneur. Warren started his businesses early with youthful ventures like lemonade stands, selling bubble gum and coca cola door to door, and barbershop pinball machines.
- “In looking for people to hire, you look for three qualities: Integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you.” [25:45] Marcel quotes Warren Buffett in this advice for hiring as a testament to Warren's good character. Todd Finkle, the guest and author of Warren Buffett: Investor and Entrepreneur, shares parts of Warren’s history that contributed to his value of integrity. Beginning with strong family values but continuing with big life events like his court testimony in the case against the Solomon Brothers.
- What defines happiness? “Warren will tell you, it’s how many people that love him…he won't say how many houses he has or the kind of car he has.” [33:42] Todd comments on Warren’s philosophy of happiness, which revolves around love for others, generosity, and the people around you. For Warren, more important than money and success is leaving behind a legacy of love.
- “They’re [Warren’s shareholder meetings] are kind of a combination of a rock concert…a carnival…and a cult. …The people that go there are the best part.” [38:35] Many of Todd’s insights on Warren come from his attendance at Warren’s shareholder meetings, where he got to be face to face with the legend. Beyond the words coming straight for Warren, Todd shares that the environment and community at these meetings with smart, like minded people from all over the world are invaluable.
- “How to live a better life is so powerful and so important, if you’re doing that you won’t need as much money to be happy.” [42:06] Financial freedom, personal success, and living life to be happy—these are the lessons learned from Buffett and the takeaways author Todd Finkle hopes his readers will take to heart.
Mentioned in this episode:
Todd Finkle - LinkedIn
Todd A. Finkle, Ph.D. | Gonzaga University
Warren Buffett | Columbia University Press
Marcel Schwantes