Let's decoct the essence of how to digest information from Buffett, although I am a novice for Buffet so let me know if you have any recommended books, Warren Buffett, who is also known as a avid reader, spent a lot of time on reading newspapers, magazines, news letters, reports from his companies, etc. Not only reading but digesting is also what he intentionally have spared the time for.
What kind of information is more important?
According to him, he kept his eyes on "the information and the company that change slowly and gradually." In other words, he did not care much for the information or comapnies that has a shorter expiration date.
Here are the sign of shorter expiration date:
- The information gained by money
- Too easy infomration to digest without any detail
- Becoming irrelevant after a month or a year.
The first point sounded not right in the beginning for me at first but considering the second point, what he meant to say here is that if you get the access to the information too easily and do not understand the essense, then you will not gain the benefit since you do not actually digest them as a part of you. That is my understanding.
Word of the day: decoct, to extract the flavor of by boiling