The world was hanging on every word uttered by Warren Buffett at what would be his last shareholder meeting address as the Chairman and CEO of Berkshire Hathaway.
During the speech, the 94-year-old Buffett spoke about what made him great at investing. And as a tremendous relief for time-challenged listeners, he said it wasn’t putting in the 10,000 hours of practice made famous by Malcolm Gladwell’s book Outliers.
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“I don’t believe in that book that talked about spending 10,000 hours at something,” Buffett said, adding, “I could spend 10,000 hours at tap dancing and you’d throw up if you watched me.”
Gladwell’s book, published in 2008, described how many elite performers — from sports stars to tech leaders — built their mastery by spending a minimum of 10,000 hours learning and perfecting their craft.
Instead of putting in time, Buffett extolled the concept of doing what you are naturally good at as a pathway to success. And pursuing things you have a genuine curiosity for.
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Speaking about his time as a student at Columbia University, Buffett reflected on the impactful relationships he forged with his professors.
“People [who] teach, in general, love having a young student who’s actually really interested in the subject, and they’ll spend extra time with you,” he said. “I was interested in what they were saying, and they found it kind of entertaining that I was so interested, so I would look around at what really fascinates you. I wouldn’t try and be somebody else.”
With an estimated net worth of $160 billion, Buffett’s advice may well be worth considering.
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