He makes time for it. Buffet once gave students in an investing class at Columbia University the following advice: "Read 500 pages like this every day," Buffett said to the students, while reaching toward a stack of manuals and papers. "That's how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it." Well, we can all build up that knowledge. But are we really doing it? Warren Buffett says, “I just sit in my office and read all day.” What does that mean? He estimates that he spends 80% of his working day reading and thinking. This leads to what is known as the Buffet Formula: “Going to bed smarter than you woke up.” Why is that so important? We’ve been recording knowledge in books for a long time. That means there’s not a lot that’s new; it’s just recycled old knowledge. Odds are that no matter what you’re working on, someone somewhere, who is smarter than you, has
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