Rare Life Wisdom

Mr. Y

It is a rare privilege to once again glean wisdom from Warren Buffett.

Justin Sun revealed that during the 2020 "charity lunch", Buffett remarked: "Why have I managed to survive until now?" His answer: "Because I never take a heavy position in a company that might surprise me."

The phrase "survive until now" likely carries a double meaning: it refers both to his longevity and to his ability to remain successful in the world of investing all these years.

The first interpretation is straightforward - extreme highs and lows are detrimental to the health of an elderly person; a steady, tranquil life is the true secret to longevity.

The second interpretation is one I cannot yet fully grasp, though given the scale of capital Buffett manages, he is almost certainly correct.

At 96 years old - and with the "charity lunch" tradition now brought to an end - every nugget of wisdom from Buffett is one less that remains to be heard.

There was a time when everything I invested in seemed to rise, and I even began to think that Buffett’s investment philosophy had become somewhat outdated.

Yet, lately, my respect for him has only grown. Why? Because he has lived long - longer, in fact, than almost anyone else on the planet.

Living a long life means he has witnessed and experienced a far broader spectrum of the world than anyone else.

Moreover, his immense success implies that he possesses the logical capacity and the resources to identify specific problems and devise sound strategies to address them.

Li Xiaolai once observed: "The awkwardness of life lies in the fact that, when making a decision, one cannot possibly possess the wealth of experience that comes only after the fact."

Lately, I have come to understand this "awkwardness" more deeply. I believe that, often, this predicament isn't just about failing to find an answer - it’s about not even realizing that a problem exists in the first place.

I once assumed that such cognitive blind spots were determined entirely by subjective factors - intelligence, education, or psychology. Now, however, I am convinced that our judgment is constrained by objective factors to a far greater extent than we typically imagine.

These objective factors encompass everything from physical signals - such as light and temperature - perceived by our sensory organs, to internal physiological states like metabolism (energy levels), as well as external survival resources, such as one's assets. In reality, these elements constantly interact with and reinforce one another. Over the past two years, following certain shifts in my objective circumstances, I suddenly uncovered a massive blind spot in my understanding of the world - one that had existed since birth. Even now, the realization often fills me with a chilling sense of regret.

I have come to place increasing value on Warren Buffett’s insights, driven by the concern - or perhaps the suspicion - that such cognitive blind spots are not isolated incidents, but rather widespread, lurking everywhere.

Consider physics: for a long time, people believed that the visible spectrum - red, orange, yellow, green, blue, indigo, and violet - comprised the entirety of light. We later discovered that visible light accounts for only a tiny fraction of the electromagnetic spectrum. Within this far broader range lie phenomena like cosmic gamma rays - capable of silently extinguishing all life - as well as radio waves, which are indispensable to the internet.

Most of our own cognitive blind spots remain undiscovered. Some are like those lethal cosmic rays, capable of causing unseen harm; others are like radio waves - if identified and harnessed, they could lead to a happier, more fulfilling life.

Discovering these blind spots requires more than just intelligence or imagination; it demands direct, objective experience. As the saying goes, "You cannot speak of ice to a caterpillar that lives only in summer."

For such a caterpillar to grasp the existence of ice, it would require the guidance of a sage and the caterpillar itself would need to possess an exceptional capacity for insight.

In the presence of Warren Buffett, we are all like those summer caterpillar.

Since 2000, Buffett has hosted his "charity lunch" 22 times. Each event has commanded an astronomical price - reaching as high as $19 million in the final year. Why?

I once failed to understand this, but now I do.

For those who can afford such a high price, a lunch with Buffett is, in essence, a way to extend their own lives.

They are purchasing the unique, profound - and perhaps not yet publicly shared - wisdom that Buffett has distilled over decades of life beyond their own. By acquiring this wisdom, they can live their remaining years better:

They can better prepare for, or hedge against, significant latent risks, while simultaneously paving the way for a richer, more rewarding life.

Therefore: first, earn money to secure your own survival; second, find wise individuals - people who have lived longer than you and achieved greater success - and pay them for private father-like instruction.