When I go for a jog, my thoughts tend to drift.
It wanders aimlessly, moving like a butterfly from one thing to another. At times, it visits strange places, bringing back old memories, books I’ve read, disputes I’ve had, films I’ve seen… everything from the current state of the world to John Mulaney’s.thoughts on ghost baseball.
(Yes, I know this seems odd… just go along with it 😉)
Last weekend, while I was jogging along the Chattahoochee River in Atlanta, my thoughts went back to a discussion my wife and I have been having with our daughter. She will celebrate her twenty-first birthday in a few weeks, and although she still has a couple of years of college remaining, she’s already thinking about what she wants to do after she graduates.
And that, naturally, made me reflect on what it was like when I was about to finish college — what were my thoughts? Who or what was I focused on? Which path did I believe I should take?
Back in those days, my father was reading abookregarding the famous Omaha investor Warren Buffett, which I never would have imagined could catch my attention in a million years. But for some reason, it did, and so I grabbed it and began flipping through the pages.
If you’re familiar with Buffett’s background, you understand his approach — how he weaves in simple, relatable, and heartfelt life lessons into what could otherwise be dull financial narratives.
The book presented me with the entire group of characters that filled Buffett’s world, from the 101-year-old Rose “Mrs. B” Blumkin, who established the Nebraska Furniture Mart without ever learning to read or write, to others such as Katharine Graham, with whom he formed a strong bond while guiding her in the years following her taking over the highest position atThe Washington Post, one of his largest current investments.
You get to understand them, and Buffett, personally: their dreams, their weaknesses, their aspirations for the future. You gain insight into the source of his hard-earned pieces of advice, particularly ones like this, which he shared with a group of students during a lecture at the University of North Carolina around the time the book was released:
The manner in which he poses the question in this brief video — it’s a snippet from the complete video, whichyou can see here— grabbed my attention with the story he shared about a period when he needed to make a significant hiring decision for a crucial position at his company, Berkshire Hathaway, within a very limited timeframe.
He explained what he was looking for in the candidate he was hiring, and redirected the focus to the students in the audience, suggesting they could also gain insight from this:
If you had an hour to make the choice… what would you focus on during that time regarding the person you selected? Would you consider who had the top grades in the class? Likely not. Would you think about who had the highest IQ? Probably not. The most attractive? Probably not either.
What’s intriguing is that when you reflect on your thoughts, you’re not considering things that are beyond your own capabilities. You’re not imagining someone who can leap seven feet, throw a football 65 yards — or recite pi to 300 digits, for instance. Instead, what occupies your mind are various traits of character. The reality is that each of these traits can be developed — they are primarily shaped by habit.
Okay, you might be thinking to yourself, that makes sense. Perhaps even straightforward. (And you’d be correct.)
However, the following part of his statement is what caught my attention, a story regarding Benjamin Graham, the investor for whom he began his career, who—when he was twelve years old—compiled a list of the traits he admired in others and those he did not:
When he reviewed that list, there was nothing mentioned about running the 100-yard dash in nine seconds or high jumping seven feet. All the items were simply about whether you chose to be that kind of person or not.
When you’re young, you truly have that chance — as you age, it becomes more difficult because, as someone has noted,The bonds of habit are too light to notice until they become too strong to break..
Regarding behavior, I observe this frequently. Therefore, the period to develop good habits is very early on—the habits that you would respect in another person and wish to invest 10 percent in [their earnings], are completely achievable.
The emphasized sentence above drew my attention so strongly that I still recall it, even after all these years. The wording, the image it evokes in my mind—can you picture what it would be like to wear shackles and chains that gradually, but certainly, become heavier and heavier? What would that experience be like? What impact would it have on your perception of what’s possible, and on your sense of self?
Even now, the words of Buffett continue to trouble me. Naturally, it’s not primarily about the image anymore; instead, I find myself questioning whether this could apply to me in a way I’m completely unaware of? Have I become rigid in my habits? Are there thoughts or ideas that I reject without even giving them a chance?
On one hand, you doYou need to cultivate an understanding of your own identity; as we mature, I believe each of us creates a sort of “operating system” to navigate through life. In one way or another, you learn how to distinguish between what is good and what is bad.
What’s challenging is determining when this system—something most of us, including myself, are likely barely conscious of most of the time—has become overly inflexible or no longer benefits us.
Reading the fantastic music recommendationsLast week’s incredible newsletter made me realize how little new music I’m allowing into my life. When I saw it, I realized I don’t even know where to find new music, let alone what to pick. So I just remain in the same small musical area, all the time.
So, in other words, I shared Buffett’s story with my stepdaughter, as it provided guidance during a period when I was looking for something. The only thing is, perhaps the reason his words still strongly affect me today is an indication that I’m still searching, right?
To be truthful, I don’t think we ever truly stop. In the last year, my wife and I have developed a friendship with a couple in their eighties. We were having dinner with them one evening when the husband said something that has remained with me: “When I was growing up — well, I’m still growing up — what I wanted to be was…”
I can’t recall what he said next because I was deeply impressed by his words, “well, I’m still growing up.” He is 85 years old. So if he’s still exploring, then I am as well.
As usual, I hope you’ve had a wonderful week and have completed some excellent runs — stay hydrated and as cool as possible out there, it’shot🥵, especially where I reside!
Stay in touch and let me know how your running and life are progressing.
Your friend,
— Terrell
